45 h. ago After a dramatic vote, the Senate pushes ahead on Trump’s tax break and spending cut plan

By a 51-49 tally and with Vice President JD Vance at the Capitol to break a potential tie, the Senate cleared a key procedural step Saturday as midnight approached.

Economics

54 h. ago Senate Republicans Advance Trump Tax Bill on Crucial Test Vote

President Donald Trump’s $4.5 trillion tax cut bill prevailed in a crucial Senate test vote, a sign that Republican leaders are resolving the infighting over portions of the legislation and moving toward meeting a July 4 deadline the president has set for passage.

Economics

54 h. ago Trump Tax Bill Advances in Senate After Vance Pressures Holdouts

President Donald Trump’s $4.5 trillion tax cut bill prevailed in a crucial Senate test vote after hours of negotiations between Vice President JD Vance and GOP leaders and Republican holdouts.

Economics

54 h. ago Trump Tax Bill Advances in Senate as GOP Scrounges for Votes

President Donald Trump’s $4.5 trillion tax cut bill prevailed in a crucial Senate test vote after hours of negotiations, setting up fresh round of deal-making as Republicans seek to convince holdouts to support the bill for final passage.

Economics

3 d. ago Senate Tweaks Trump Tax Bill in Bid to Court Republican Holdouts

Senate Republicans unveiled a new version of their $4.2 trillion tax cut package that adjusts key provisions on the SALT deduction, Medicaid and clean energy as they try to meet a July 4 deadline set by President Donald Trump.

Economics

3 d. ago Trump Speeds Up Tax Bill Deadline as Tentative SALT Deal Reached

President Donald Trump amped up pressure on Congress to speed the passage of his tax-cut bill as Republicans reached a tentative deal on the state and local tax deduction, one of the key sticking points in the negotiations.

Economics

3 d. ago Almost 22 million Canadians getting income tax cut next week

Canada is set to move forward with its proposed middle-class income tax cut on Tuesday.The federal government will deliver tax relief to Canadians by reducing the lowest marginal personal income tax rate from 15 per cent to 14 per cent, effective July 1.According to Finance Canada, nearly 22 million Canadians are expected to benefit from the income tax cut.The measure would reduce the tax rate that is applied to the first $57,375 of an individual's taxable income in 2025, regardless of their income level.A majority of the tax relief will go to Canadians in the two lowest tax brackets (those with taxable income under $114,750 in 2025), including nearly half to those in the first bracket ($57,375 and below in 2025).Ottawa says the maximum tax savings will be $420 per person and $840 per couple in 2026. All in all, this is expected to deliver over $27 billion in tax savings to Canadians over five years, starting in the 2025/2026 tax year.Since the tax cut will take effect halfway t...

Economics

5 d. ago ‘Cut the middle man’: Alberta floats swapping equalization for more provincial tax

The plan draws inspiration from an unlikely source: a fiscal decentralization scheme recently floated by Quebec

Economics

1 week ago Alberta's promised income tax cut is coming in July — here's what you need to know

Albertans can expect to see the province’s promised tax cut on their paycheques next month. The United Conservative Party campaigned on the income tax cut during the spring 2023 election and after two years Albertans will finally see it reflected on their paycheques starting in July. The income tax cut was introduced in Budget 2025 […]

Economics

1 week ago Average family to save $280 per year from Liberal tax cut: PBO

OTTAWA — The average Canadian family will save $280 on their taxes next year from the Liberal government’s planned income tax cut, the parliamentary budget officer said in an analysis released on Wednesday. But some seniors and single Canadians are expected to save less, prompting criticism from Conservatives who argue the tax cut doesn’t go […]

Economics

1 week ago For final budget of term, Vancouver's ruling party directs city staff to find 'efficiencies'

ABC Vancouver tells city staff to sharpen their pencils and find ways to cut a proposed seven per cent tax increase in 2026

Sport

2 w. ago Some Canadians receiving increased GST credit payments next month

Some Canadians can expect to receive an increase in GST credit payments from the federal government soon.The Goods and Services Tax/Harmonized Sales Tax (GST/HST) credit is a tax-free quarterly payment, but this time it will include a 2.7 per cent increase.According to the government, the credit payment aims to help families with low and modest incomes offset the taxes they pay.If you’re eligible, you'll see the new amount in your bank account on Friday, July 4.Who's eligible for the payment?The government says you're generally eligible for the payment if you're at least 19 years old and a Canadian resident for income tax purposes a month before the Canada Revenue Agency (CRA) makes the payment at the beginning of the month.If you are under 19 years old, the government says you must meet at least one of the following conditions during the same period:You have (or had) a spouse or common-law partnerYou are (or were) a parent and live (or...

Economics

3 w. ago Leong: When politicians putting money back in your pocket doesn't really save you money

Opportunistic politicians want to sound good by offering you a tax cut. Sounds like a good deal but sometimes, it isn't

Politics

3 w. ago London's tax cut effort: A serious fix or 'a piece of political theatre'?

As city hall looks to limit next year's tax hike, there's limited appetite to cut services either within the city hall or from agencies funded by the city

Politics

3 w. ago Elon Musk Urges Americans Take Action to ‘Kill’ Trump Tax Cut Bill

Elon Musk is on a mission to block President Donald Trump’s tax bill after he tried — and failed — to convince Republican lawmakers to preserve valuable tax credits for electric vehicles in the legislation, according to a person familiar with the matter.

Economics

3 w. ago Carney's spending promises will require 'significant cuts' to the public service: PBO

Yves Giroux says a public service cap alone will not be enough to pay for the prime minister's tax cut and defence spending.

Transport

3 w. ago Trump, GOP Senators Discussed Cutting SALT Break in Tax Bill

Donald Trump and Republican senators discussed ways to scale back the $40,000 state and local tax deduction cap in the House version of the president’s tax-cut bill, Senate Majority Leader John Thune said.

Economics

3 w. ago EISEN and HILL: Smith government should reintroduce single income tax to drive economic growth

At $75,000 in income, Albertans still face the ninth-highest combined (federal and provincial) income tax rate out of 61 Canadian provinces and U.S. states.

Politics

4 w. ago Alaris Equity Partners Announces Closing of $80 Million Bought Deal Offering of 6.50% Convertible Unsecured Senior Debentures, and a US$21.5 Million Follow

NOT FOR DISTRIBUTION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW CALGARY, Alberta, June 02, 2025 (GLOBE NEWSWIRE) — Unless otherwise stated, all numbers in this press release are presented in Canadian dollars. Alaris Equity Partners Income Trust (“Alaris” or the “Trust“) (TSX: AD.UN) […]

Economics

4 w. ago Senate Begins Putting Its Stamp on Giant Trump Tax, Debt Limit Bill

Significant changes are in store for President Donald Trump’s signature $3.9 trillion tax-cut bill as the Senate begins closed-door talks this week on legislation that squeaked through the House by a single vote.

Economics