tax expenditure

A tax expenditure is a loss of government tax revenue resulting from provisions in the tax code—such as deductions, exemptions, credits, or preferential rates—that function like spending programs by providing targeted financial benefits to specific activities or groups.

Aliases (2)

• federal tax credit ×1
• refundable tax credit ×1

Instances (3)

• Low-Income Housing Tax Credit
• Earned Income Tax Credit ("refundable tax credit")