This project seems to implicitly assume that a formally specified code of laws, where statutes can be interpreted largely mechanistically, is a good thing (and by extension, that the existing system of human interpreters with discretion and margins of error is a problem to be overcome).

I don't disagree with this assumption outright, but it's certainly not obvious to me that it is correct, and the authors appear to present no arguments supporting the same.

Some laws, like tax bracket computation probably are fine but most laws should not be codified like this in my opinion

The French have a programming language for tax related work: https://github.com/MLanguage/mlang