This week, area residents are receiving their first pollution pricing rebate of 2024 through direct bank deposit or by cheque.
Canada’s approach to pollution pricing is not only one of the best ways to fight climate change, it also puts money back into the pockets of individuals and families. The direct proceeds from the federal pollution price are returned to the jurisdiction from which they were collected to help with cost-of-living challenges while keeping the incentive to pollute less.
Eight out of 10 households receive more money back through the Climate Action Incentive Rebate than they pay as a result of the federal pollution pricing system, with low- and middle-income households benefitting the most. Furthermore, residents of small and rural communities receive an extra 10 percent supplement beyond the base rebate amount, in recognition of the increased energy needs of rural residents and their reduced access to cleaner transportation options. Beginning in April 2024, the rural supplement will double to 20 percent for regions including Sault Ste. Marie and Algoma.
This means a family of four in our region will receive $1,146.80 over the course of 2024.
As 2024 kicks off, the Government of Canada reiterates its commitment to pollution pricing and its crucial role in meeting targets to cut emissions by 40 percent below 2005 levels by 2030 and achieve net-zero emissions by 2050. Estimates show that pollution pricing will contribute about a third of the total reductions in emissions that will occur between now and 2030. Putting a price on pollution and returning the proceeds to eligible Canadians through rebates provides support for individuals and families while also maintaining an incentive to reduce emissions.
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“This week, many local residents will begin noticing payments arriving in their bank accounts and mailboxes. These rebate payments are the other half of the carbon pollution pricing system. Climate action rebates are a vital pillar in our fight against climate change - contributing about a third of our overall emissions reduction goal. We are also investing in other clean initiatives, like the electrification of Algoma Steel, which is equivalent to taking 900,000 gas-powered cars off the road.
These rebates also help families with the higher cost of living, alongside a range of other programs introduced by our government. These include tax cuts for the middle class, the Canada Child Benefit, grocery rebates, child care, dental, rental support, and enhancements to income supports for seniors.”
-Terry Sheehan, Member of Parliament for Sault Ste. Marie and Parliamentary Secretary to the Minister of Labour and Seniors
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