Tracy L. Foertsch & Ralph A. Rector (both of the Center for Data Analysis, The Heritage Foundation) have posted The Treasury Department’s Dynamic Analysis of President Bush’s Tax Relief Plan: A Summary and Evaluation on the Heritage Foundation web site.  Here is the Conclusion:

On July 25, the Treasury Department’s Office of Tax Analysis ("OTA") published a detailed sum­mary of its dynamic analysis of the President’s proposal to make permanent certain expiring provisions of EGTRRA and JGTRRA. That report, A Dynamic Analysis of Permanent Extension of the President’s Tax Relief, represents the OTA’s first public attempt to do a dynamic analysis of a major legislative initiative.

The OTA is to be congratulated for its effort. However, future OTA reports on the subject of dynamic analysis could be improved by including additional information on not only the economic and budgetary effects of changes in tax policy, but also the sensitivity of the OTA’s results to assump­tions about the government’s long-run fiscal policy.