tax break

Cultural  

1. 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.

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Example Sentences

Retirement savings have decades to compound and may need to support him and his wife for 30 years or more, making the tax break more valuable.

From The Wall Street Journal

“We did everything right,” said St. Clair Mayor Bill Cedar, who was part of an effort to woo Magna with tax breaks and the construction of a new water tower to supply the facility.

From The Wall Street Journal

The new tax will fund child care programs, free school meals, tax credits for families, and tax breaks for small businesses.

From The Wall Street Journal

“At the end of the day, it’s just a tax break.”

From MarketWatch

A nationwide downturn in U.S. film and TV production caused a 30% employment drop from late-2022, as studios seek overseas tax breaks and streaming services cut spending.

From The Wall Street Journal