OTTAWA Canadians will soon get an update on the health of federal finances and the government's outlook for an economy facing high inflation rates, flooding in British Columbia and the emergence of a new variant of COVID-19.
The $3.5 trillion “reconciliation” spending bill containing the Biden Administration’s “Build Back Better” plan is making its way through Congress. The measure contains unprecedented new federal education spending, including universal preschool for all three- and four-year-old children, and expanded childcare subsidies capping what families pay at no more than 7 percent of their income. These two provisions alone come with an estimated $450 billion price tag.
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