Tags: flu | tax | CDC

Tax on Flu Shots Would Bolster Vaccine-Victims Fund

Friday, 26 Apr 2013 12:28 PM

By Lisa Barron

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Congress is considering bipartisan legislation to impose a 75-cent-per-dose tax on all seasonal flu vaccines, which could add a $100 million a year to federal coffers.

The Centers for Disease Control and Prevention estimates that 135 million doses of the flu vaccine will be administered this year, which could translate into a windfall that could be used, along with taxes on other vaccines, to fund the nation's Vaccine Injury Compensation Trust Fund, according to the Weekly Standard.

That fund, begun in 1988, reportedly has paid just $2.5 billion for cases involving all vaccines.Its balance as of November was more than $3.5 billion. The Standard noted that the fund could probably survive for another 25 years without new revenues.

The $3.5 billion is reportedly invested in U.S. Treasury securities, which help to finance the nation's $16.5 trillion debt.

The House bill was introduced Feb.4 by Republican Rep. Jim Gerlach and co-sponsored by Democratic Rep. Richard Neal, while the Senate version was submitted by Finance Committee Chairman Max Baucus and co-sponsored by ranking committee Republican Orrin Hatch.

A posting on the Senate website indicates an agreement has been reached on the legislation that is expected to lead to passage. If the House follows suit and the president signs it, the flu tax could be in place by next winter, the Standard reported.




© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Biden Heads to Ukraine as Tensions Rise

Monday, 21 Apr 2014 06:02 AM

Vice President Joe Biden is heading to Ukraine to meet with leaders of the turbulent country.Biden's visit comes a day a . . .

Faithful Prepare to Celebrate Canonization of 2 Beloved Popes

Saturday, 19 Apr 2014 20:35 PM

Rome is "ready, very ready" for the canonization of former Popes John Paul II and John XXIII, the Eternal City's mayor,  . . .

Kristol, Dershowitz Slam Effort to Rig Electoral College

Saturday, 19 Apr 2014 19:37 PM

Conservatives slammed the campaign to effectively end the Electoral College's role in presidential elections, saying tha . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved