The Vaccine Injury Compensation Trust Fund was set up by the National Childhood Vaccine Injury Act of 1986 as a source of funds to compensate people found to be injured by certain vaccines by the Vaccine Court.
Vaccine Excise Tax
Money for the Vaccine Injury Compensation Trust Fund comes from a $0.75 excise tax on each vaccine that kids routinely get as recommended by the CDC.
Who pays this vaccine tax?
Is it the drug companies or folks getting the vaccines?
The U.S. Department of the Treasury collects the tax from the vaccine manufacturers.
But like other manufacturing costs, they likely just add it to the price of the vaccine. They are still paying it though.
Vaccine Injury Compensation Trust Fund
How much does the IRS collect?
Between 2009 and 2013, it has averaged about $200 million a year.
The Vaccine Injury Compensation Trust Fund has a balance of over $3 billion, as in addition to the excise tax, it gains interest on investments. That balance has grown because the Fund’s income has outpaced its payments (about $3.5 billion) over the years.
For More Information on the Vaccine Excise Tax
- Who Pays for VICP?
- IRS – Manufacturers Taxes on Vaccines
- Government Accountability Office Report on Vaccine Injury