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flag The 2026 federal budget proposes a 3% income tax rise to reduce deficits and fund social programs.

flag The draft 2026 federal budget, released today, proposes a 3% increase in income tax rates, aiming to address growing fiscal deficits and fund expanded social programs. flag The plan, which includes targeted tax hikes on higher-income earners and certain capital gains, is expected to generate approximately $1.2 trillion over the next decade. flag Lawmakers are currently reviewing the proposal, with debate expected to intensify in the coming weeks.

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