The child tax credit would be cut in half, from $1,000 today to $500, and would no longer be refundable for most.
Many working Americans do not have health care coverage, so we will help them buy their own insurance with refundable tax credits.
"to give back, restore," early 15c. (earlier "to pour back," late 14c.), from Old French refunder "restore" and directly from Latin refundere "give back, restore, return," literally "pour back, flow back," from re- "back" (see re-) + fundere "to pour" (see found (v.2)). Specifically of money from 1550s. Related: Refunded; refunding.
"a return of money paid," 1782, from refund (v.).