tax credit

English

Noun

tax credit (plural tax credits)

  1. A tax incentive which allows certain taxpayers to subtract the amount of the credit they have accrued from the total they owe.
    • 2022 December 22, Annie Lowrey, quoting Pamela Herd, “The Child Tax Credit Was a Little Too Subtle”, in The Atlantic‎[1]:
      A tax credit—it just doesn’t feel like a benefit in the same way that getting your Social Security check does. It doesn’t register with people in the same way, and that has a real impact on support for the program.
    • 2025 June 3, David Smith, “Elon Musk calls Trump’s ‘big, beautiful’ tax bill a ‘disgusting abomination’”, in The Guardian‎[2], →ISSN:
      The bill extends Trump’s 2017 tax cuts and includes new spending for border security and the military. Republicans aimed to offset these costs with cuts to programmmes such as Medicaid, food stamps and green-energy tax credits.

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