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Senate Democrats Block Funding Bill Again, Demand Health Care Action

For the tenth time in just over two weeks, Senate Democrats have rejected a Republican-backed stopgap spending bill, prolonging a government shutdown now stretching into its third week. The vote, which failed 51–45, fell short of the 60 votes needed to advance under Senate filibuster rules. Democrats remain firm in their stance that any funding deal must include provisions to extend health care benefits, particularly subsidies under the Affordable Care Act that are set to expire at the end of the year. Senate leaders argue that without these protections, millions of Americans could face higher costs or lose coverage altogether. Meanwhile, the shutdown has left hundreds of thousands of federal workers furloughed or working without pay, with ripple effects across the country. Flight delays, suspended services, and uncertainty over Social Security and other benefits have added to public frustration. Republicans, led by Senate Majority Leader John Thune, have urged Democrats to separat...
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Canada’s Capital Gains Tax Changes: What You Need to Know

The Liberal government’s capital gains tax changes have officially taken effect today, sparking both support and opposition. Here’s a concise overview:

  1. What Changed?

    • The capital gains inclusion rate has increased from one-half to two-thirds for gains over $250,000 per year for individuals.
    • Corporations and most types of trusts now face the same inclusion rate on all capital gains.

  2. Why the Change?

    • Prime Minister Justin Trudeau frames this as generational fairness, aiming to address wealth disparities.
    • The $19.4 billion expected revenue will fund housing and other priorities for young Canadians.

  3. Backlash and Concerns:

    • Critics argue that the higher inclusion rate may harm the economy by reducing competition and innovation.
    • Physicians’ groups express concern about the impact on doctors who invest through incorporated medical practices.

  4. Opposition and Alternatives:

    • Conservative Leader Pierre Poilievre claims the wealthy will find ways to avoid the tax, affecting farmers, small businesses, and homebuilders.
    • Finance Minister Chrystia Freeland emphasizes the need for increased spending on health care and social services.

  5. Entrepreneurship Incentive:

    • To encourage entrepreneurship, the government proposes the Canadian Entrepreneurs’ Incentive, reducing the inclusion rate to a third on eligible capital gains up to $2 million.

In summary, these changes aim to balance fairness, revenue, and economic impact. The debate continues as Canada adapts to its evolving tax landscape. 

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