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Bill C-30 Just Passed: 5 Ways It Changes Your Wallet in 2026

  Canadian Money Brief Bill C-30 just received Royal Assent — and it touches your gas tank, your TFSA neighbour the RRSP, your CPP statement, and your tax return all at once. Here are the five changes that actually matter for your wallet. 1. The Federal Fuel Excise Tax Is Suspended Until September 7 The federal excise tax on gasoline and diesel is paused from April 20 through September 7, 2026 — shaving 10 cents per litre off gas and 4 cents off diesel at the pump. The tax break also extends to aviation fuel. If you're road-tripping this summer, the savings show up automatically; you don't need to do anything to claim it. Just don't expect it to last past Labour Day weekend, since the suspension is scheduled to expire September 7. 2. Home Buyers' Plan Repayment Window Triples — From 2 Years to 5 If you used your RRSP to fund a down payment through the Home Buyers' Plan, the grace period before you have to start repaying yourself is extending from two years to five, ...
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A Comprehensive Approach to Addressing the US Debt Problem

 

The US debt problem is a complex issue that requires a multi-faceted approach to solve. While closing the $688 billion tax gap is a step in the right direction, it is not a panacea for the US debt problem. According to a recent article by AOL, even if the IRS achieves a 100% collectible rate and closes the estimated $688 billion tax gap, that won’t be enough to meaningfully shrink the US debt gap. The article suggests that the US government needs to focus on other areas such as reducing spending, increasing revenue, and improving economic growth.

The US debt problem is a critical issue that requires immediate attention. The current debt-to-GDP ratio indicates that current policy under this report’s assumptions is unsustainable. If lawmakers fail to take action soon, the report projects that the federal debt could “exceed 200 percent [of GDP] by 2046 and reach 566 percent by 2097”. To stabilize the federal debt at current levels, the Financial Report estimates that the government will have to run “primary surpluses” equal to 0.6 percent of GDP, 4.9 percentage points higher than current projections, between 2023 and 2097 .

Therefore, it is imperative that the US government takes a comprehensive approach to address the debt problem. The government should focus on reducing spending, increasing revenue, and improving economic growth. A balanced approach that includes a combination of these measures is necessary to address the US debt problem.

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