The opioid epidemic sweeping the U.S. is far costlier than once thought, with theeconomic impact of the crisis exceeding half atrillion dollars, according to a new report by White Houseeconomists.

The epidemic cost the American economy $504 billion in 2015,which was the equivalent of 2.8 percent of gross domestic productthat year, according to the report by the Council of EconomicAdvisers, or CEA. The White House’s figures are more than six timeslarger than a previous study because it incorporates the value oflives lost to the epidemic.

The findings come less than a month after the Trumpadministration declared widespread opioid abuse a public health emergency while stopping short offreeing up federal disaster funds to tackle the problem.

A study released last year estimated the cost of the opioidcrisis in 2013 at $79.9 billion, adjusted to 2015 dollars. TheWhite House economists said prior research (see table) didn’tcapture the full impact because it at times only measuredhealth-care expenditures or earnings lost from those who die --which overlooks “other valuable activities in life besideswork.”

The CEA also said it made adjustments to more accurately measurethe number of opioid-related deaths, which often go underreported,and focused on illicit opioids as well as prescription drugs.

“This is the first but not the last publication CEA plans toissue on the opioid crisis,” according to the report. “A betterunderstanding of the economic causes contributing to the crisis iscrucial for evaluating the success of various interventions tocombat it.”

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