Between 2010 and 2024, federal spending on the country’s largest recurring place-based programs climbed from roughly $44.1 billion to $60.7 billion in inflation-adjusted terms—yet direct program spending fell over that same span.
Urban Institute’s report traces this shift across 13 programs and finds that tax expenditures like the Low-Income Housing Tax Credit and Opportunity Zones now account for 84 percent of tracked spending, up from 66 percent in 2010, handing the private sector a larger say in where federal dollars land.
If you are deciding whether current funding matches the needs of your community, or you are interested in who now directs these investments, tyou should read this report.