Bill C-234 in its current amended state isn’t as good for farmers from a cost savings perspective as the original, unamended piece of legislation.
That’s what the Parliamentary Budget Officer (PBO) discovered in a recent study of the bill.
The amended bill, which removes the carbon tax exemption for fuels used to heat or cool buildings and changes the sunset period of the legislation from eight years to three, would save Canadian farmers about $27 million annually by 2025-2026.
“Which over the same time period is approximately one quarter of our estimate of the Bill as passed by the House of Commons on third reading,” the PBO says in its Feb. 13 report.