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Tax Free = Tax Expenditure

Reviewing a Bloomberg article on the “health-care overhaul” (how come they don’t call it “Universal” anymore?) I ran across the following paragraph that I had a little problem reconciling?

Lawmakers have a plethora of proposals to raise the hundreds of billions estimated to be needed for an overhaul, including new taxes on soda, beer, and wine, and a partial tax on employer-provided health insurance for the first time. The tax-free nature of employer-provided insurance is the biggest tax expenditure in the federal budget.

So do I read that correctly, tax free employer-provided insurance is considered not only a tax expenditure but the biggest tax expenditure in the federal budget?  So any unclaimed opportunity to tax is considered by the democrats as a “tax expenditure”?  Does that also mean when they start taxing our employeer-provided insurance that it was be considered a tax expenditure reduction?

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