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Calibrate the itemized deduction for medical expenses #86

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MaxGhenis opened this issue Sep 27, 2024 · 0 comments
Open

Calibrate the itemized deduction for medical expenses #86

MaxGhenis opened this issue Sep 27, 2024 · 0 comments

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@MaxGhenis
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Treasury's tax expenditures report projects that the itemized deduction for medical expenses costs $12.9 billion in 2024, compared to our $5.5 billion.

Currently we're only calibrating to medical expenses total (SNAP motivated it). Let's also calibrate to the itemized deduction, which only applies to expenses in excess of 7.5% of AGI.

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