Title: Tax Policy Transparency Act
Policy area: Taxation

Summary:
Tax Policy Transparency Act
This bill requires the Joint Committee on Taxation (JCT) to make publicly available an analysis of the effects of major tax legislation, including: (1) a distributional analysis, (2) a dynamic distributional after-tax wage income analysis, and (3) a written summary of the results of the analyses.
During the 10-year period after major tax legislation is enacted into law, the JCT must submit to Congress annual updates for the estimates included in the analyses.
"Major tax legislation" includes legislation for which the estimate provided by the JCT and the Congressional Budget Office under the Congressional Budget Act of 1974 incorporates the budgetary effects of changes in economic output, employment, capital stock, and other macroeconomic variables (commonly known as dynamic scoring).

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4085 Introduced in House (IH)]

<DOC>






115th CONGRESS
  1st Session
                                H. R. 4085

To require the Joint Committee on Taxation to provide a distributional 
 analysis, and analysis of effects on after-tax wage income, of major 
                            tax legislation.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 19, 2017

Mr. Ruppersberger introduced the following bill; which was referred to 
                    the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To require the Joint Committee on Taxation to provide a distributional 
 analysis, and analysis of effects on after-tax wage income, of major 
                            tax legislation.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Tax Policy Transparency Act''.

SEC. 2. DISTRIBUTIONAL ANALYSIS, AND ANALYSIS OF EFFECT ON AFTER-TAX 
              WAGE INCOME, OF MAJOR TAX LEGISLATION.

    (a) In General.--In the case of any major tax legislation, the 
Joint Committee on Taxation shall (at the same time as the Joint 
Committee on Taxation provides an estimate of such legislation to the 
Director of the Congressional Budget Office under section 201(f) of the 
Congressional Budget Act of 1974) make publicly available--
            (1) a distributional analysis of such legislation;
            (2) a dynamic distributional after-tax wage income analysis 
        of such legislation; and
            (3) a written summary of the results of the analyses under 
        paragraphs (1) and (2), including a written summary comparing 
        the aggregate effects of such legislation among the income 
        categories referred to in subsection (b).
    (b) Distributional Analysis.--The distributional analysis referred 
to in subsection (a)(1) shall be prepared in the same manner, shall 
cover the same time periods relative to the time of the consideration 
of the legislation, and shall use the same income categories and income 
concept, as the analysis of distributional effects provided in the 
Committee Print of the Joint Committee on Taxation titled ``Technical 
explanation, estimated revenue effects, distributional analysis, and 
macroeconomic analysis of the Tax Reform Act of 2014, a discussion 
draft of the Chairman of the House Committee on Ways and Means to 
reform the Internal Revenue Code'' (JCS-1-14).
    (c) Dynamic Distributional After-Tax Wage Income Analysis.--The 
dynamic distributional after-tax wage income analysis referred to in 
subsection (a)(2) shall provide an analysis of the anticipated effects 
of the legislation on after-tax wage income of individuals--
            (1) separately on the basis of the income categories 
        referred to in subsection (b);
            (2) covering the same time periods as the analysis 
        described in subsection (b); and
            (3) after taking into account the budgetary effects of 
        changes in economic output, employment, capital stock, and 
        other macroeconomic variables resulting from such legislation.
    (d) Major Tax Legislation.--For purposes of this section, the term 
``major tax legislation'' means any legislation if the estimate 
provided by the Joint Committee on Taxation to the Director of the 
Congressional Budget Office under section 201(f) of the Congressional 
Budget Act of 1974 with respect to such legislation incorporates the 
budgetary effects of changes in economic output, employment, capital 
stock, and other macroeconomic variables resulting from such 
legislation.
    (e) Annual Updates.--In the case of any major tax legislation to 
which subsection (a) applies and which is enacted into law, the Joint 
Committee on Taxation shall annually (with respect to each of the 10 
fiscal years beginning after the date of the enactment of such 
legislation) submit to Congress revised estimates of the information 
described in subsection (a) with respect to such law as so enacted.
                                 <all>