The cost of EITC and CTC are small in comparison to all tax expenditures and the government’s major programs

Budgetary Cost in 2023 (Billions of $)

Source: Congressional Budget Office and The Joint Committee on Taxation Embed Download image
Notes: Tax expenditures are deductions, credits, exclusions, and preferential rates. The estimates for tax expenditures reflect the total in the individual and corporate income tax systems; they do not account for any interactive effects of combining various provisions. Medicare spending is net of premiums and payments from the states. Defense represents discretionary defense spending and is adjusted to exclude the effects of timing shifts.