Health Tax Preferences Keep Climbing

Estimated Value of Non-Neutral Federal Tax Expenditures (Including Income and Payroll Tax Effects but Excluding Outlay Effects) as a Share of GDP, 1994 to 2025

Note: ESI payroll tax effect imputed for years 1994 to 2007 based on Treasury's reported estimates in subsequent years.
Source: US Treasury Department, "Tax Expenditures [Fiscal Years 1996 to 2027]"; Authors' calculations.
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