By Canadian Taxpayers Federation -- Aaron Wudrick, Federal Director—— Bio and Archives--November 12, 2019
(This column originally appeared in the Financial Post)
For Canadians who endured an election that often felt like a stomach flu, here's something to make everyone feel better: the overwhelming majority of MPs agree we need an income tax cut.
Prime Minister Justin Trudeau promised to save the average family about $600 every year by increasing the basic personal income tax exemption from $12,000 to $15,000. Except for the high-income earners he leaves out, it's a broad-based and truly helpful break for Canadian families. In his first press conference following the election, Trudeau confirmed the tax cut is coming.
On this front, Trudeau's record is worth noting. In 2015, his first order of business was also an income tax cut, in which he reduced the middle-income tax bracket from 22 per cent to 20.5 per cent—while at the same time increasing the top marginal rate by three percentage points.
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