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New Era of U.S. Tax Policy Brings Permanent Cuts for Households and Businesses

                                           People walk on Fifth Avenue in New York City, U.S., August 7, 2025. The United States is entering a sweeping new phase of tax policy as a major federal overhaul takes effect, delivering permanent tax cuts for both households and businesses. Economists expect these changes to play a significant role in shaping economic activity in the years ahead. Boost for Households The overhaul introduces a range of individual tax reductions designed to increase take‑home pay and expand disposable income. Adjusted withholding levels and larger refunds are expected to give many Americans a noticeable financial lift early in the year. The law also removes federal income tax on tipped wages, a change projected to benefit millions of workers across service industries. Business Incentives and Investment Businesses are also set to g...
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Toronto Transit Workers Face Friday Strike Deadline

 

Toronto transit workers are on the brink of a strike unless negotiations see significant changes on key contract issues. The looming deadline, set for Friday just past midnight, could trigger the first TTC strike since 2008.

Core Issues and Impasse

ATU Local 113 president Marvin Alfred stated that negotiations have reached an “impasse.” The union’s nearly 12,000 members are moving toward a strike unless core issues—such as wages, benefits, and job security—are addressed. The union seeks protections against outsourcing jobs to third parties and cross-boundary service transfers to other Greater Toronto Area transit operators.

Optimism and Challenges

TTC spokesperson Stuart Green remains optimistic that a deal can be worked out before the deadline. Negotiations are likely to go down to the wire, balancing the challenging work of union members with affordability for the City of Toronto. TTC chair Jamaal Myers echoes this optimism, emphasizing the need for contingency plans.

Impact on Commuters

A strike could disrupt travel plans for tens of thousands of commuters who rely on TTC subways, streetcars, and buses. While both sides continue bargaining, it’s essential for commuters to have a backup plan in place.



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