tax credit

British  

noun

1. (in Britain) a social security benefit paid in the form of an additional income tax allowance

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Example Sentences

Until last September, car buyers could claim a $7,500 tax credit for eligible new EVs, while used-EV buyers could claim a $4,000 tax credit.

From MarketWatch • May 2, 2026

Some people rushed to buy an EV before the tax credit expired.

From MarketWatch • May 2, 2026

The $7,500 federal EV purchase tax credit expired in September, making EVs relatively more expensive.

From Barron's • May 1, 2026

When it comes to tenants, Steyer wants to expand the state renter’s tax credit and preserve its rent control framework that he says balances the need for more construction and protection of tenants.

From Los Angeles Times • May 1, 2026

Some draw on government help in the form of food stamps, housing vouchers, the earned income tax credit, or—for those coming off welfare in relatively generous states—subsidized child care.

From "Nickel and Dimed: On (Not) Getting By in America" by Barbara Ehrenreich