Tax expenditures cost more than any individual government spending program

Budgetary Cost in 2024 (Billions of $)

Sources: Joint Committee on Taxation and U.S. Department of the TreasuryEmbed Download image
Notes: Tax expenditures, also known as tax breaks, 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. Defense represents discretionary defense spending.