December 11, 2019
Press Progress
Canada-wide
Morneau’s Latest Tax Cut: Will $37 A Year ‘Lift’ Canadians Out of Poverty?
The federal government’s claims its “middle-class tax cut” will lift 40,000 Canadians out of poverty strike oddly against calculations the cut will save lower-income Canadians between $37 and $137 per year.
Speaking in the House of Commons, Monday, Minister of Families, Children and Social Development Jean-Yves Duclos praised Finance Minister Bill Morneau’s plan to extend the Basic Personal Amount (BPA) exemption from $12,000 to $15,000, this coming January.
Calculations by University of British Columbia economics professor Kevin Milligan note families with incomes up to $20,000 only save $37 per year with the cut, while families earning $20,000-40,000 save only $137 per year.