Amended Bill C-234 to Slash Farmers’ Carbon Tax Savings by $80 Million Annually by 2026: PBO

The Parliamentary Budget Officer (PBO) has revealed that the amended Bill C-234, a carbon tax exemption for farms, would result in about $80 million less in annual savings for farmers by 2026. The up to $27 million in yearly savings a Feb. 13 PBO report projects by 2026 starkly contrasts with the $106 million in annual savings that the original version of the bill promised. The Senate amendments to the bill removed carbon tax exemptions for fuels used in heating or cooling buildings for livestock or crops and shortened the bill’s duration from eight to three years, ending in 2026 instead of 2030. Originally, the PBO had estimated savings of $162 million per year by 2030 before these modifications....