Tax expenditures cost more than the largest government spending programs

Budgetary Cost in 2024 (Billions of $)

Sources: Joint Committee on Taxation and Congressional Budget OfficeEmbed Download image
Notes: Tax breaks, also known as tax expenditures, are deductions, credits, exclusions, and preferential rates. Income tax revenues includes individual and corporate. The estimates for tax expenditures do not account for any interactive effects of combining various provisions. Medicare spending is net of premiums and payments from the states.