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Congress Averts Government Shutdown with Last-Minute Spending Bill

  In a dramatic turn of events, Congress narrowly avoided a government shutdown by passing a crucial spending bill late Friday night. The bill, which extends government funding until mid-March, was approved by the House with a vote of 366 to 34 and later passed by the Senate. This legislation provides $110 billion in relief for natural disaster survivors and aid to farmers, while also extending the farm bill. However, the bill notably excludes President-elect Donald Trump's demand to raise the debt ceiling. Instead, Republicans are considering a handshake deal to raise the debt limit by $1.5 trillion early next year and reduce future government spending by $2.5 trillion. This compromise does not have the force of law and will be revisited in the coming months. The spending package also left out key Democratic priorities, such as funding for pediatric cancer research. Despite these omissions, the bill's passage was seen as a significant achievement for House Speaker Mike Johnson...
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"CRA Duped Again: Ontario Construction Tax Credit Scam Costs Millions"

 

The Canada Revenue Agency (CRA) has once again fallen victim to a tax credit scam, this time involving Ontario's construction tax credit scheme. According to sources, the CRA mistakenly paid out tens of millions of dollars to scammers who used fake businesses to claim tax credits for non-existent renovations and construction projects.

The scheme, which began in 2020, allowed businesses to claim tax credits for building or renovating commercial facilities. However, the CRA failed to verify the claims, accepting them without review and paying out the credits without proper scrutiny. This oversight has resulted in significant financial losses, with the exact amount still being calculated but estimated to be in the tens of millions.

Minister of National Revenue Marie-Claude Bibeau has defended the CRA's fraud detection systems, calling them "robust," despite the repeated failures. The CRA has declined to comment on how the scam was missed and has not disclosed specific details about their monitoring strategies.

The Ontario finance ministry has stated that the CRA is responsible for administering the tax credits on behalf of the province, including conducting audits. Both the federal and provincial governments are now working together to address non-compliance and implement measures to minimize fraud in the future.

This latest incident raises questions about the effectiveness of the CRA's fraud detection systems and the accountability for the financial losses incurred.



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