what does remi say? sm tax pi. what does remi say? sm shortfalls in the u.s

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Tax PI

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Shortfalls in the U.S.

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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

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Tax PI Features

• Dynamic Responses– Behavioral Responses– Year-by-year effects

• Detailed Sectors• Variables specific to tax changes

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Model Overview

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Model Integration

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Elasticities for US in 2008State State elasticity

AL 1.2443AK 0AZ 1.4991AR 1.5058CA 1.6521CO 1.3698CT 1.2775DE 1.5025DC 1.4839FL 0GA 1.4051HI 1.4529ID 1.6702IL 1.1532IN 1.1013IA 1.4035KS 1.5819

KY 1.3761LA 1.4309ME 1.6232MD 1.4135MA 1.1656MI 1.3765MN 1.6445MS 1.6154MO 1.5346

State State ElasticityMO 1.5346MT 1.6178NE 1.6947NV 0NH 1.178NJ 1.4531NM 1.6722NY 1.501NC 1.4082ND 1.6205OH 1.3688OK 1.5738OR 1.3922PA 1.0624RI 1.5554SC 1.6465SD 0TN 1.0982TX 0UT 1.4699VT 1.8783VA 1.3433WA 0WV 1.4944WI 1.6513WY 0US 1.4491

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Tax PI Model Linkages

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Distinguishing Model Features

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Importing Tax Data

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Tax Inputs and Variables

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Policy Variables

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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

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Contact Us

Headquarters:

433 West Street, Suite 4Amherst, MA 01002

TEL: 413.549.1169FAX: 413.549.1038

District Office:

700 12th St. NW, Suite 700Washington, DC 20005

TEL: 202.904.2490

www.remi.com info@remi.com