Middle-class Canadians will save $1.73 a week under the Liberal Government’s new middle-class tax cut, totalling out to $90 dollars a year.
“We are lowering taxes for middle-class families and people working hard to join them, which means more money that can be used to do things like buy healthy food, send kids to camp,” said Middle-Class Prosperity Minister Mona Fortier to the Commons Friday. “This is just the next step in our plan to make life more affordable for middle-class Canadians.”
According to Blacklock’s reporter, parliament passed Bill C-2 that would raise the basic personal exemption for tax filers by roughly $3,000 from $12,298 to $15,000 annually by 2023.
“We know that will have an important impact,” said Finance Minister Bill Morneau. “It’s a very significant measure.”
“The government is trying to get extraordinary credit for what is really a very modest tax cut,” said MP Pat Kelly (Calgary Rocky Ridge), deputy Conservative finance critic to Blacklocks. “It’s a tax cut, and I support cutting taxes for Canadians, but this isn’t going to help Canadians get ahead anywhere near to the extent this government is claiming.”
“The budget resembles marketing documents rather than giving Canadians accurate and clear information about what the government actually plans to do,” said Kelly.
A January cost report found that people earning between $104,000 AND $159,000 will benefit most.
“The Liberals are taking from the poor and giving it to the rich,” said MP Peter Julian. “They have got Robin Hood backwards.”