Friday, March 6, 2015

The Affordable Care Act Insurance Premium Subsidies Will Become The Largest Refundable Tax Credit Ever In A Few Years

From Tax Foundation, "How Big Are the Subsidies in King v. Burwell?" by Alan Cole:

Insurance Premium Credit Subsides Projections By Year
Source: Tax Foundation
By the Joint Committee on Taxation’s most recent estimates, the subsidies were only $15.5 billion, total, in 2014, the first year of their existence. (Most people haven’t even filed their individual taxes for 2014 or determined exactly the final amount.) However, the Committee has that number fast increasing to over $100 billion before the end of the decade. That would make these subsidies the largest refundable tax credit ever. [Emphasis added.]

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