February 19, 2024
![Income Tax Expenditures Community and Regional Development, FY 2023 Income Tax Expenditures Community and Regional Development, FY 2023](https://www.taxpolicycenter.org/sites/default/files/fiscal-facts/ff_screenshot_2.19.2024.png)
Fact:
Several income tax provisions subsidize the costs of community and regional development. For FY 2023, the largest provisions were Opportunity Zones ($2.1 billion) and New Markets Tax Credits ($1.2 billion), per Treasury's estimates.