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tax break
- A special tax benefit given to promote specific economic or social objectives. For example, the U.S. government, having decided that individual home ownership is a boon to the economy, allows interest on a home mortgage to be subtracted, in whole or in part, from one's taxable income . The resulting lower taxation for homeowners constitutes a tax break.
Example Sentences
Getting a leg up in life — or just being financially comfortable — is an increasingly difficult solace to attain, blocked by tax breaks for the rich, incessant bills and unaffordable housing.
“I think the Trump administration really wants to cut back on things so that they can fund their tax breaks that they implemented during his first term,” the Dem Club president said.
Tuesday the Pep Secretary said in her weekly briefing that tariffs are tax breaks for American consumers.
Low- to moderate-income workers may also be eligible for the Earned Income Tax Credit, a refundable tax break.
It would also extend tax breaks passed during his first term in office, which are due to expire at the end of the year.
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