Statement in Response to Parliamentary Budget Office’s Costing of the Carbon Capture and Hydrogen Investment Tax Credits
Enviromental Defense
FEBRUARY 1, 2024
The PBO estimates that these two tax credits will collectively provide over $11 billion to carbon capture and hydrogen projects by 2028. The new analysis shows that Minister Freeland’s CCUS tax credit is likely to cost $5.746 billion by 2028. Background Information: The PBO’s analysis costed the two tax credits until 2028.
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