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5 Things to Know Today: Your Canadian Money Brief

  Wednesday, April 29, 2026 | moneysavings.ca/canadian-money-brief 1. The Bank of Canada Is Watching — And So Should You Markets are closely parsing every signal from the Bank of Canada ahead of its next rate announcement. With inflation holding stubbornly above target in key categories like shelter and groceries, economists are split on whether another cut is on the table or a longer hold is in store. If you're carrying variable-rate debt or sitting on a GIC renewal, now is the time to model both scenarios. What to do: Don't lock into a long-term rate product until after the next announcement. A few days of patience could save you thousands. 2. Spring Housing Market: More Listings, Less Panic After years of near-empty inventory, more Canadian sellers are finally listing — particularly in the Greater Toronto Area and Greater Vancouver. The uptick in supply is giving buyers breathing room they haven't seen since pre-pandemic times. That said, prices haven't mean...
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Trump’s ‘Beautiful’ Bill: Big Cuts, Big Promises, and a Big Price Tag

In a razor-thin 51–50 Senate vote, President Donald Trump’s sweeping tax and spending package—dubbed the “One Big Beautiful Bill”—cleared a major hurdle on its way to becoming law. But behind the glossy branding lies a complex mix of tax relief, social program cuts, and political controversy.


What’s in the Bill?

  • Tax Cuts Galore: The bill makes permanent the 2017 Trump-era tax cuts, expands deductions for overtime and tipped income, and raises the SALT deduction cap from $10,000 to $40,000 for five years.

  • Child Tax Credit Boost: The credit would increase from $2,000 to $2,200 per child, avoiding a scheduled drop to $1,000 in 2026.
  • Made-in-America Incentives: Interest on loans for U.S.-made vehicles becomes deductible, and full expensing is allowed for new factories and equipment.
  • Border and Defense Spending: $350 billion is earmarked for border security and military expansion, including hiring 10,000 new ICE agents.
  • Cuts to Social Programs: Medicaid and food assistance programs face deep reductions—up to $1 trillion over the next decade. Work requirements and eligibility checks will tighten access.


Who Benefits—and Who Doesn’t?

While the White House touts average tax savings of up to $2,000 for working families, the nonpartisan Tax Policy Center estimates only 2% of U.S. households will see significant gains. Critics argue the bill disproportionately benefits higher earners while stripping support from low-income Americans.

The Price Tag

The Congressional Budget Office projects the bill will add $3.3 trillion to the national debt over the next 10 years. Even some Republicans have voiced concern over the fiscal impact.

What’s Next?

The bill now returns to the House of Representatives for final approval. Trump has urged lawmakers to deliver it to his desk by July 4th.




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