federal budget

Federal budget could include corporate, wealthy taxes amid new spending, expert says

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Federal budget could include corporate, wealthy taxes amid new spending, expert says

The federal government is set to unveil its budget on Tuesday, with experts predicting that it will come with more taxes. Finance Minister Chrystia Freeland has vowed to stick within her fiscal guardrails despite increasing spending commitments. Senior vice-president Robert Asselin predicts potential new taxes for large companies, larger corporate taxes, or a wealth tax on rich individuals. The government may also pair tax increases with cuts or deferring other spending. They must be cautious with spending to avoid impacting the Bank of Canada’s potential interest rate cut in June. The budget will be tabled at 4 p.m. ET.

The federal budget mess – NH Business Review

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The federal budget mess - NH Business Review

The federal budget recently passed has a trillion deficit, which is the same amount as the entire federal national debt 30 years ago.

Small business owners ask U.S. House tax writers to extend Trump-era deductions • Michigan Advance

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Small business owners ask U.S. House tax writers to extend Trump-era deductions • Michigan Advance

Economists and small business owners are urging U.S. lawmakers to extend or make permanent the Trump-era tax cuts, particularly the deductions that allowed them to reinvest in their operations.

Small business owners ask U.S. House tax writers to extend Trump-era deductions • Pennsylvania Capital-Star

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Small business owners ask U.S. House tax writers to extend Trump-era deductions • Pennsylvania Capital-Star

The text describes how economists and small business owners are urging U.S. lawmakers to extend or make permanent the Trump-era tax cuts, particularly the deductions that allowed them to reinvest in their operations. The Tax Cuts and Jobs Act of 2017 allowed business owners to deduct up to 20% of qualified business income and temporarily cut taxes on new equipment purchases. If Congress does not extend these deductions, small business owners could face significant tax hikes and be at a disadvantage compared to larger corporations.

How will Liberals pay for billions in promised spending, loans? Freeland won’t say if wealth taxes coming

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How will Liberals pay for billions in promised spending, loans? Freeland won't say if wealth taxes coming

Deputy Prime Minister and Finance Minister Chrystia Freeland did not confirm whether the upcoming federal budget could include higher taxes for corporate Canada or major grocers.

Freeland doesn’t rule out new taxes on wealthy or corporate Canada in upcoming budget

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Freeland doesn't rule out new taxes on wealthy or corporate Canada in upcoming budget

Finance Minister Chrystia Freeland has ruled out raising taxes on the middle class in the upcoming federal budget, but has not confirmed if corporations or the wealthy will face tax increases.