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New Federal Budget to Deliver $1,100 Tax Credit for Personal Support Workers

                                                        Jobs and Families Minister Patty Hajdu  The federal government has announced a major new measure in Budget 2025 aimed at supporting Canada’s personal support workers (PSWs). The initiative introduces a refundable tax credit of up to $1,100 per year for eligible PSWs, a move expected to benefit more than 200,000 frontline care workers across the country. Unveiled by Jobs and Families Minister Patty Hajdu , the credit is designed to recognize the essential role PSWs play in Canada’s healthcare system, particularly in caring for seniors and vulnerable populations. The refundable nature of the credit means that even low- and modest-income workers, who may not owe income tax, will still be able to claim the benefit. The program will allow PSWs to claim five per cen...
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 US stock futures took a sharp dive today as hopes for interest rate cuts in 2025 were dashed. The Dow Jones Industrial Average, S&P 500, and Nasdaq futures all saw significant declines amid rising bond yields and a stronger dollar.

The Dow Jones Industrial Average fell by 0.3%, while S&P 500 futures sank by 0.8%, and Nasdaq 100 futures tumbled by 1.2%. This drop follows a strong jobs report from December, which has led investors to believe that the Federal Reserve will maintain higher interest rates for a longer period.

The 10-year Treasury yield reached a 14-month high, touching close to 4.8%, while the 30-year yield neared 5%. Additionally, the US dollar surged to a two-year high against major currency peers.

Investors are now pricing in no rate cuts until at least September 2025, with only a slight 30 basis point reduction expected for the entire year. This has put a spotlight on the upcoming Consumer Price Index (CPI) report, due on Wednesday, as concerns grow that inflation may not cool to the central bank's 2% target.

Tech giants like Nvidia and Tesla were among the hardest hit, with both companies seeing their stock prices slide amid the market turmoil. The rise in energy prices, following new US sanctions on Russia's crude industry, has also added to the market's woes.

As the market continues to react to these developments, investors are bracing for a potentially rough session ahead.




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