tax cut policy; tax reduction policy
Refers to a government policy aimed at reducing taxes. Often used in economic and political contexts.
The government announced a new tax cut policy.
Debate continues over the effects of the tax reduction policy.
増税 means 'tax increase', the opposite of 減税. 減税政策 is a policy for tax cuts, while 増税政策 would be a policy for tax increases.
Compound of 減税 (tax reduction) and 政策 (policy). The components are straightforward Sino-Japanese morphemes.