Praise former tax cut (5)
I believe the answer is:
extol
'praise' is the definition.
(extolling is a kind of praising)
'former tax cut' is the wordplay.
'former' becomes 'ex'.
'tax' becomes 'toll' (I've seen this in other clues).
'cut' means to remove the last letter.
'toll' with its final letter removed is 'tol'.
'ex'+'tol'='EXTOL'
(Other definitions for extol that I've seen before include "Proclaim" , "trumpet" , "Glorify - honour" , "Praise - honour" , "Speak highly" .)