tax credit
noun
: an amount of money that is subtracted from taxes owed
Families with children in college will receive a tax credit this year.
Examples of tax credit in a Sentence
Recent Examples on the Web
Some of the key changes included lower federal income tax brackets, bigger standard deductions, a more generous child tax credit, a 20% deduction for pass-through businesses and higher estate and gift tax exemptions, among other provisions.
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Kate Dore, Cfp®, CNBC, 12 Oct. 2024
His running mate, J.D. Vance, has proposed boosting the child tax credit.
—Jessica Guynn, USA TODAY, 12 Oct. 2024
The following year, President Joe Biden signed a $1.9 trillion economic stimulus package of his own, including another round of $1,400 direct payments as well as an expansion of the child tax credit.
—Max Zahn, ABC News, 11 Oct. 2024
While president, Trump sought to repeal the EV tax credit which was later expanded by President Joe Biden in 2022.
—Andrea Shalal, Detroit Free Press, 10 Oct. 2024
See all Example Sentences for tax credit 
Kate Dore, Cfp®, CNBC, 12 Oct. 2024
His running mate, J.D. Vance, has proposed boosting the child tax credit.
—Jessica Guynn, USA TODAY, 12 Oct. 2024
The following year, President Joe Biden signed a $1.9 trillion economic stimulus package of his own, including another round of $1,400 direct payments as well as an expansion of the child tax credit.
—Max Zahn, ABC News, 11 Oct. 2024
While president, Trump sought to repeal the EV tax credit which was later expanded by President Joe Biden in 2022.
—Andrea Shalal, Detroit Free Press, 10 Oct. 2024
See all Example Sentences for tax credit
These examples are programmatically compiled from various online sources to illustrate current usage of the word 'tax credit.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
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Cite this Entry
“Tax credit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/tax%20credit. Accessed 25 Oct. 2024.
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