Tax expenditures cost more than any individual government spending program

Budgetary Cost in 2023 (Billions of $)

Sources: Office of Management and Budget and Joint Committee on Taxation
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. Defense represents discretionary defense spending.