tax expenditure

American  

noun

1. any reduction in government revenue through preferential tax treatment, as deductions or credits.

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Example Sentences

The government actually publishes not one, but two tax expenditure budgets, one by the Treasury Department and the other by the Joint Committee on Taxation, listing all of the spending found in the tax code.

From Slate

For tax expenditure programs to end, "There has to be a campaign, maybe a horror story," LeRoy said.

From Salon

From an economic standpoint, the difference between the rates you pay and the rich pay is a tax expenditure, or a tax subsidy.

From Washington Post

He proposed fixing the tax code so that it no longer favours investors over workers and free community college funded by eliminating the stepped-up basis tax expenditure that allows heirs to reduce the capital gains taxes they pay on inherited assets.

From The Guardian

Every single organization on this list represents a significant tax expenditure; collectively, they represent a massive pot of uncollected taxes that, ultimately, need to be made up by the rest of us.

From Slate