Sentences with phrase «of federal tax increases»

Not exact matches

The trust fund is paid for with receipts from the federal fuel tax, and with gas prices at low levels, an increase in the tax might be part of a more extended program.

While Republican leaders argued it would, every major independent analysis of the bill, known as the Tax Cuts and Jobs Act, showed that it would grow the federal debt over the next 10 years even when accounting for that increased growth.

Morneau said nine out of 10 recipients of child benefits would do better under the new program than they were previously; a family of two children earning $ 90,000 per year will get a tax - free bonus of $ 5,650 per year from the federal government, an increase of $ 2,500 per year compared with Harper's child - subsidy regime.

In first promise of the official 2015 federal election campaign, Stephen Harper said the Conservatives would increase the apprenticeship job creation tax credit to $ 2,500 from $ 2,000 and expand the program to include a third and fourth year of training.

The government expects the anti-smoke move will increase federal tax revenues by $ 685 million in 2014 - 15 — a major piece of the puzzle in Tory efforts to balance the books over the next two years.

And all of them argue that the proposed tax cuts, estimated to reduce federal revenue by more than $ 1.4 trillion, won't increase federal deficits, an assertion that's been contradicted by Congress's official tax scorekeeper.

«We're not going to increase the cost of internet service; we're not going to impose more taxes on Quebecers, on taxpayers,» he said during a visit to a Montreal community organization to promote this week's federal budget.

For starters, Prime Minister Stephen Harper has promised to fight the federal deficit, expected to reach $ 56 billion by fiscal year - end, with «fiscal discipline» instead of tax increases.

The tax cut and excess federal spending may boost some areas of the economy, but thus far, it has not produced anything more than a modest boost in capital spending (most of it from capital intensive technology companies) but a surge in stock buybacks and dividend increases, Apple being a case in point.

This is what Federal Reserve Chairman Ben Bernanke called the fiscal cliff, and he and many other economists worry that if all of these tax increases and spending cuts take effect simultaneously, the U.S. will send itself into a self - inflicted recession.

Eliminating the state and local tax deduction would raise about one - quarter of the $ 4 trillion in revenues that some Republicans say they need to prevent tax cuts from creating a massive increase in the federal budget deficit.

State governments have agreed taxes they control, such as payroll and stamp duty, could be targets as part of the federal government's tax reform agenda next year, which many tip will involve an increase in the GST.

Fair enough, I was probably thinking of the upcoming federal tax rate increase.

The recently passed tax cuts could increase the Federal deficit by around $ 200 billion this year, adding to the supply of bonds.

A six per cent increase to the top federal income tax bracket, for example, might bring in $ 1 or $ 2 billion per year — not nearly enough to compensate millions of middle - earners with stagnating wages.

Increased export prices also tend to boost government revenues through company taxes and a range of federal and state royalties.

If the assets in these accounts were liquidated entirely in one year, the proceeds might increase the tax bracket to the marginal federal income tax rate of 43.4 % (39.6 % ordinary income tax plus 3.8 % Medicare surtax), which would minimize and potentially eliminate any savings.

Almost six in 10 adults (57 %) say they would be willing to pay one dollar more per week in taxes to increase federal funding for the scientific research into the causes and treatment of pain.

But it also includes measures that the Opposition Parties may not want to support; for example; the increase in annual Tax Free Savings Account contribution limit; changes to the sick leave provisions of federal employees; and retroactive legislation to protect the RCMP from possible criminal charges with respect to the destruction of data under the Access to Information Act.

(Though the state is in the process of increasing its estate tax exemption to match the federal exemption.)

It is worth remembering that Reagan, hardly a fan of reversing course or raising taxes, found it necessary to propose significant tax increases in 1982 and 1984 (the equivalent in today's economy of $ 3.5 tn over a decade) due to concerns about federal debt.

If that tax rate is reduced to 33 percent, the after - tax of the donation would increase to $ 67 because the federal subsidy for giving falls from $ 39.60 to $ 33.

Either increased shipping capacity out of the Midwest or alternative markets for Canadian production would increase oil production profits for producers and the royalty and tax inflow for federal and provincial governments.

An increase in the federal rate will reduce the size of a common federal - provincial tax base.

The new Income Tax Act contained many special exemptions and incentives which the commission had found objectionable and removed the federal Estate Tax Act, which had been a significant obstacle to the increasing concentration of wealth.

Expansion of the Canada Pension Plan and the Unintended Effect on Domestic Investment finds that by increasing the Canada Pension Plan payroll tax, the federal and provincial governments will inadvertently shrink the pool of money available for investments in Canada — potentially up to $ 114 billion by 2030.

If you are, say, Dalton McGuinty, Jean Charest or Christy Clark, you should adamently oppose any increases in federal corporate taxes since you'll bear, depending on your preferred model, some or all (and then some) of the cost of increased federal corporate tax revenue.

I haven't seen any good estimates of this effect, but given the current «cost» of the federal dividend tax credit regime (roughly $ 3 billion a year), it's probably not unreasonable to think that a 50 + % increase in the federal corporate tax rate (from 15 % to 24 %) might cost the fisc.

It authorized the creation of fiat money to the tune of nearly five million dollars a month, and it passed a 50 % increase in tax rates in the principal form of federal taxation, the tariff.

About 39 % of respondents said fiscal policy, which has included tax increases and automatic federal spending cuts, was «too restrictive,» while 21 % thought it was «too stimulative.»

Related: Trump Flirting With The Idea Of A Federal Gasoline Tax Increase

Ontario and BC could increase their flexibility in the current situation by completely separating the determination of provincial income tax liability from the determination of federal income tax liability, as Quebec did years ago.

A 9.3 % rise in tobacco prices generated about 40 % of the core CPI increase as a federal excise tax kicked in.

While federal and provincial governments will continue to play an important role investing in infrastructure, they simply do not have the resources to meet the demand — pegged at somewhere in the neighbourhood of $ 500 - billion — without a large increase in tax revenues or drastic cuts to social programs.

Yet Republican deficit hawks are balking at an increase in federal spending after the recent passage of the tax reform plan and 2019 fiscal year budget.

 Moreover, my understanding is that the corresponding figure for the federal government, after the Chretien / Martin years, was in the ballpark of $ 50 billion annually. I'm no expert in optimal tax rates, but it certainly sounds reasonable to suggest that tax rates (both personal and corporate) could increase.

As the budget deficits of the federal, state and local governments increase, the possibility of taxing church property also rises — despite the long history of tax exemption.

Flake does nod in the direction of a grand bargain that combines entitlement cuts with tax increases, but he doesn't mention that he was a longtime supporter of replacing the federal tax code with a 23 - percent national sales tax.

1) Repeal Obamacare; Pursue Patient - Centered Care 2) Stop the Tax Hikes 3) Reverse Obama's Spending Increases 4) Scrap the Code; Replace It with a Flat Tax 5) Pass a Balanced Budget Amendment 6) Reject Cap and Trade 7) Rein in the EPA 8) Unleash America's Vast Energy Potential 9) Eliminate the Department of Education 10) Reduce the Bloated Federal Workforce 11) Curtail Excessive Federal Regulation 12) Audit the Fed

The obvious benefit of this approach will be increased funds available for nongovernmental schools, funds subsidized by a tax credit rather than dispersed in federal grants.

Beginning with tax year 2002, the federal adoption expense tax credit increased to a maximum of $ 10,000 per adoption.

Skelos had a renewed set of talking points on the minimum wage increase today, noting that not only would low - income earners lose their jobs, but would no longer qualify for federal tax credits or social service programs.

Trump's promise to end state and local deductions — one element of his tax reform blueprint unveiled in April — would raise taxes on over one million middle - class New Yorkers and increase the city's federal tax burden by a whopping $ 7 billion, according to a new analysis from NYC Comptroller Scott Stringer.

The measure would amend the state's tax law when it comes to how a taxpayer's income is calculated in order to avoid the state's tax burden increasing as a result of the federal tax overhaul.

The final agreement not only burnishes Cuomo's liberal credentials by extending (though not expanding) the millionaire's tax, raising the age of criminal responsibility of New York and addressing the high cost of college tuition for members of the middle class, it also dramatically increases his (already considerable) budget powers, enabling him to single - handedly make spending cuts in the event of widely expected future federal funding reductions.

Cuomo's office has said that residents of the 24th District who do itemize their federal taxes, more than 81,000 taxpayers, would see their tax liability increase by an average of $ 2,434 under the GOP plan.

Romney raised fees, but he can claim that he didn't increase taxes because the federal government funded almost half of his reforms.

«It will result in a reduction of federal funding for mass transit, will significantly impede the MTA's access to the capital markets and will increase the tax burden for all of our customers.

Proponents of raising taxes on New York's wealthiest say they have a new impetus to increase the state's revenue — the continued bad news from Washington about deep federal cuts to health care and other areas.

«In fact, she's already called for higher taxes on individuals and small businesses; she supports an energy plan that would increase our electricity costs; she promises a single - payer health care system that would further destroy our health care and economy; and she wants to force federal gun restrictions that would take away the Second Amendment rights of law - abiding citizens.»