{"action":"created","issue":{"url":"https://api.github.com/repos/open-source-economics/Tax-Calculator/issues/435","labels_url":"https://api.github.com/repos/open-source-economics/Tax-Calculator/issues/435/labels{/name}","comments_url":"https://api.github.com/repos/open-source-economics/Tax-Calculator/issues/435/comments","events_url":"https://api.github.com/repos/open-source-economics/Tax-Calculator/issues/435/events","html_url":"https://github.com/open-source-economics/Tax-Calculator/pull/435","id":114642732,"number":435,"title":"Add parameter to exclude taxable interest income from AGI","user":{"login":"Amy-Xu","id":10549597,"avatar_url":"https://avatars.githubusercontent.com/u/10549597?v=3","gravatar_id":"","url":"https://api.github.com/users/Amy-Xu","html_url":"https://github.com/Amy-Xu","followers_url":"https://api.github.com/users/Amy-Xu/followers","following_url":"https://api.github.com/users/Amy-Xu/following{/other_user}","gists_url":"https://api.github.com/users/Amy-Xu/gists{/gist_id}","starred_url":"https://api.github.com/users/Amy-Xu/starred{/owner}{/repo}","subscriptions_url":"https://api.github.com/users/Amy-Xu/subscriptions","organizations_url":"https://api.github.com/users/Amy-Xu/orgs","repos_url":"https://api.github.com/users/Amy-Xu/repos","events_url":"https://api.github.com/users/Amy-Xu/events{/privacy}","received_events_url":"https://api.github.com/users/Amy-Xu/received_events","type":"User","site_admin":false},"labels":[],"state":"open","locked":false,"assignee":null,"milestone":null,"comments":10,"created_at":"2015-11-02T17:26:03Z","updated_at":"2015-11-04T12:26:10Z","closed_at":null,"pull_request":{"url":"https://api.github.com/repos/open-source-economics/Tax-Calculator/pulls/435","html_url":"https://github.com/open-source-economics/Tax-Calculator/pull/435","diff_url":"https://github.com/open-source-economics/Tax-Calculator/pull/435.diff","patch_url":"https://github.com/open-source-economics/Tax-Calculator/pull/435.patch"},"body":"In this PR, one more haircut parameter is added for taxable interest income to exclude it from AGI and therefore regular tax. There're two relevant issues:\r\n\r\n- Currently this parameter is named as `_ALD_Interest_HC`, which means above-the-line deduction haircut for interest income. But obviously interest income is not a deduction. On top of that, I'm not quite sure whether this is technically a haircut. Algebra is pretty simple for this parameter, but asking for naming advice. @MattHJensen @martinholmer @feenberg \r\n\r\n- @MattHJensen mentioned that all this kind of parameters would influence AGI amount. We want to maintain the AGI decile/bins the same as current law for easy comparison. To make sure our tables use the same set of AGI results, I'm going to create a new function calculating and storing current law AGI in a separate PR. Have not started to implement it yet. Welcome any comments/suggestions."},"comment":{"url":"https://api.github.com/repos/open-source-economics/Tax-Calculator/issues/comments/153704436","html_url":"https://github.com/open-source-economics/Tax-Calculator/pull/435#issuecomment-153704436","issue_url":"https://api.github.com/repos/open-source-economics/Tax-Calculator/issues/435","id":153704436,"user":{"login":"MattHJensen","id":8301092,"avatar_url":"https://avatars.githubusercontent.com/u/8301092?v=3","gravatar_id":"","url":"https://api.github.com/users/MattHJensen","html_url":"https://github.com/MattHJensen","followers_url":"https://api.github.com/users/MattHJensen/followers","following_url":"https://api.github.com/users/MattHJensen/following{/other_user}","gists_url":"https://api.github.com/users/MattHJensen/gists{/gist_id}","starred_url":"https://api.github.com/users/MattHJensen/starred{/owner}{/repo}","subscriptions_url":"https://api.github.com/users/MattHJensen/subscriptions","organizations_url":"https://api.github.com/users/MattHJensen/orgs","repos_url":"https://api.github.com/users/MattHJensen/repos","events_url":"https://api.github.com/users/MattHJensen/events{/privacy}","received_events_url":"https://api.github.com/users/MattHJensen/received_events","type":"User","site_admin":false},"created_at":"2015-11-04T12:26:10Z","updated_at":"2015-11-04T12:26:10Z","body":"@Amy-Xu, the right way to think about this parameter is that it allows the user to exclude all or part of interest income from taxable income, but interest income will still be taxed under NIIT if the user doesn't explicitly set the NIIT rate to zero and interest income will still be used in the determination of eitc eligibility. Are there any other quirks? Could you add this sort of info to the meta data in current_law_policy.json? "}}