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Update functions.md
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bodiyang authored Apr 19, 2024
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Functions
Functions & Methodology
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## Functions
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It is known that Congressional Budget Office take the offset effect into consideration when producing revenue projections. Taxcalc-Payroll's performance is in line with the CBO's estimation.

As a reference, this [document of budget options](https://www.cbo.gov/budget-options/54805) shows CBO's estimation of revenue change from the rise of Social Security payroll tax rate by 1% (0.5% on each side of employer and employee). Please be noted that this document is produced in 2018. So we need to be aware of the inflation effect when we compare Taxcalc-Payroll's estimation (current year) with this CBO document (2018).
As a reference, this [document of budget options](https://www.cbo.gov/budget-options/54805) shows CBO's estimation of revenue change from the rise of Social Security payroll tax rate by 1% (0.5% on each side of employer and employee). Please be noted that this document is produced in 2018. So we need to be aware of the inflation effect when we compare Taxcalc-Payroll's estimation (current year) with this CBO document (2018).

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