Transcript Tax PI
Tax PI what does REMI say? sm Shortfalls in the U.S. what does REMI say? sm Economic-Fiscal Dilemma • States are in a dual crisis – Economic – Fiscal • Fiscal crisis solution options – Raise taxes – Cut government spending • Economic crisis problems – Fiscal solution options harm economy what does REMI say? sm Tax PI Features • Dynamic Responses – Behavioral Responses – Year-by-year effects • Detailed Sectors • Variables specific to tax changes what does REMI say? sm Model Overview what does REMI say? sm Model Integration what does REMI say? sm Elasticities for US in 2008 State AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS State elasticity 1.2443 0 1.4991 1.5058 1.6521 1.3698 1.2775 1.5025 1.4839 0 1.4051 1.4529 1.6702 1.1532 1.1013 1.4035 1.5819 KY LA ME MD MA MI MN MS MO what does REMI say? sm 1.3761 1.4309 1.6232 1.4135 1.1656 1.3765 1.6445 1.6154 1.5346 State MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY US State Elasticity 1.5346 1.6178 1.6947 0 1.178 1.4531 1.6722 1.501 1.4082 1.6205 1.3688 1.5738 1.3922 1.0624 1.5554 1.6465 0 1.0982 0 1.4699 1.8783 1.3433 0 1.4944 1.6513 0 1.4491 Tax PI Model Linkages what does REMI say? sm Distinguishing Model Features • Model incorporates four unique quantitative methodologies • Each model is custom built to match regional client specificity Integrated Dynamic Customized Structural what does REMI say? sm • Measures economic impacts and responsive demographic and economic changes over time • Incorporates transparent and robust economic linkages built on proven methods and theory Importing Tax Data what does REMI say? sm Tax Inputs and Variables what does REMI say? sm Policy Variables what does REMI say? sm Representative Clients Our Taxation-Focused Client Base Includes: • • • • • • • • Ernst & Young Iowa Department of Revenue & Finance Iowa Legislative Fiscal Bureau Massachusetts Department of Revenue Rhode Island Department of Revenue Texas Comptroller of Public Accounts Texas Legislative Budget Board Utah Governor’s Office of Planning & Budget what does REMI say? sm Contact Us www.remi.com [email protected] Headquarters: District Office: 433 West Street, Suite 4 Amherst, MA 01002 700 12th St. NW, Suite 700 Washington, DC 20005 TEL: 413.549.1169 FAX: 413.549.1038 TEL: 202.904.2490 what does REMI say? sm