By Denise Faguy
Farms.com
A recent study by the Parliamentary Budget Officer reveals that Canadian farmers could save almost $1 billion by 2030 if Bill C-234 gets Senate approval. This bill seeks to expand the carbon tax exemptions related to farming. The Canadian Taxpayers Federation is advocating for its immediate passage.
Franco Terrazzano, the president of the Canadian Taxpayers Federation, said, "Making farming more cost-effective directly impacts the affordability of food for families." This sentiment comes after the House of Commons endorsed the legislation to broaden the carbon tax exemption for farmers – not once, but twice.
The study unveils that the federal carbon tax, when applied to natural gas and propane, will levy a cost of about $978 million on farmers by the end of this decade. It's noteworthy that while there’s an existing carbon tax exemption for diesel and gasoline in the agricultural realm, the same does not hold for natural gas and propane. These fuels, often overlooked, play a crucial role in farming practices such as drying grain and barn heating.
Bill C-234 aims to fill this gap by eliminating the carbon tax from these essential farm fuels. Despite receiving approval from the House of Commons, the bill currently faces delays in the Senate. It's worth mentioning that a similar bill in the past also received the green light from the House of Commons, only to falter in the Senate later.
Terrazzano expressed his frustration regarding the hold-up. "