Senate committee amends Trudeau government’s signature middle-class tax cut
OTTAWA — A Senate committee has amended the Trudeau government’s signature tax bill to cut taxes even more for some middle-income earners.
The amendment changes the tax brackets in Bill C-2, which is supposed to deliver on Prime Minister Justin Trudeau’s campaign promise to reduce taxes for middle class Canadians while making the wealthiest pay more.
As originally written, the bill would reduce the tax rate to 20.5 per cent from 22 per cent on income between about $45,000 and $90,000 and impose a new tax rate of 33 per cent on income above $200,000.
Those changes actually went into effect last Jan. 1 as one of the first actions of Trudeau’s fledgling Liberal government and bill would formally enshrine them in legislation.