Energy sector and agriculture: federal revenue forgone from tax provisions

On June 15, 2023, PBO published the report “Update on the energy sector and agriculture: federal revenue forgone from tax provisions” which examined the cost of tax provisions specific to fossil fuel development and the lost revenue from exemptions to the federal fuel charge for agriculture. The PBO was requested to provide the estimated forgone revenue from the federal fuel charge exemption in agriculture on an annual basis from 2023 to 2030. This additional analysis contains the additional information.