Meaning of tax credit | Babel Free

Definitions

A tax incentive which allows certain taxpayers to subtract the amount of the credit they have accrued from the total they owe.

Equivalents

Examples

“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.”

“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^([sic]) such as Medicaid, food stamps and green-energy tax credits.”

CEFR level