Debate Over Carbon Capture Tax Credits, as PBO Estimates They Could Cost $1 Billion More Than Estimated
A new report by the Parliamentary Budget Officer (PBO) says the federal government’s tax credit encouraging companies to invest in carbon capture technology will likely cost more than Ottawa estimated.
The PBO’s Feb. 1 report estimates the cost of the investment tax credit for carbon capture, utilization, and storage (CCUS) at $5.7 billion for the six years from 2022–23 to 2027–28.
A second PBO report released on the same day, which examined a separate federal tax credit, for investments in clean hydrogen, estimates that it would reduce federal revenues by $5.7 billion over five years, from 2023–24 to 2027–28.
Lumped together, the two investment tax credits could cost more than $11 billion—roughly a billion more than what Ottawa estimated.
One environmental group points out that they could end up costing even more.
“These tax credits are being designed without a ceiling,” said the group Environmental Defence in a Feb. 1 statement. “That means the final cost for Canadian taxpayers could end up being much, much greater.”
This is quite a Read.!!
Wow!!!!! she’s pissed!! we all should be..
One really pissed-off CANADIAN citizen!!!
It appears that this Senator hit a sour chord with this young lady!!
Jeff Smith, a Senator from Quebec, calls senior citizens the "Greediest Generation" as he compared , Old Age Security to "a Milk Cow with over a million teats".
Here's a response in a letter from Patty Johnstone in Ontario ..
I think she is a little ticked off! She also tells it like it is!
"Hey Jeff, let's get a few things straight!!
1. As a career politician, you have been on the public dole (tit) for FIFTY YEARS.
2. I have been paying CPP & OAS for 48 YEARS (since I was 15 years old. I am now 63). Being a Canadian citizen for over 20 years & paying my taxes, I am eligible at 65 to apply for Old Age Security - OAS (paid for through my taxes).
3. My Canada Pension payments, and those of millions of other Canadians, were safely tucked away in an interest bearing account for decades until you political pukes decided to raid...
Google paper ignites Bitcoin debate over freezing 4M dormant coins
https://www.perplexity.ai/page/google-paper-ignites-bitcoin-d-EBq8Y4YfRhqrQYMFtg4u1g
