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Federal Budget 2025: What It Means for Your Money

The 2025 federal budget introduces a mix of tax cuts, housing measures, and spending shifts that will directly affect Canadians’ day-to-day finances. While the government projects a significant deficit, the plan focuses on affordability and long-term growth. Here are eight key ways it impacts your wallet: 1. Lower Income Taxes The lowest federal tax bracket will be reduced from 15% to 14% starting mid-2025, giving middle-income earners some relief. 2. Vacant Home Measures The Underused Housing Tax will be expanded to discourage vacant and underutilized properties, aiming to free up more housing supply. 3. Student Loan Relief Repayment assistance will be enhanced, with lower income thresholds and capped monthly payments to ease the burden on graduates. 4. Consumer Protection New rules will cut down on excessive banking fees and strengthen protections for financial consumers, especially those with modest incomes. 5. Housing Affordability Programs Funding will support first-...
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Trump Adjusts Auto Tariffs to Support U.S. Car Industry


In a move aimed at bolstering the U.S. automotive sector, President Donald Trump announced adjustments to tariffs on imported cars and parts. The changes, revealed on April 29, 2025, are designed to alleviate the financial strain on domestic automakers while encouraging local manufacturing.

The revised policy prevents the stacking of multiple tariffs, such as those on steel and aluminum, on top of the existing 25% levy on foreign-made vehicles. Additionally, automakers will receive temporary reimbursements for tariffs on imported parts, with the offset gradually decreasing over the next two years. This measure is expected to mitigate production costs and stabilize car prices for consumers.

Industry leaders, including Ford and General Motors, have welcomed the decision, citing its potential to safeguard jobs and maintain competitiveness. The administration emphasized that the adjustments align with its broader goal of revitalizing U.S. manufacturing and reducing reliance on foreign imports.

The announcement underscores the administration's commitment to supporting the domestic auto industry while navigating the complexities of global trade.

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