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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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S&P 500 Plummets Amid Weak Jobs Report

 


The S&P 500 experienced its worst jobs day since October 2022, as a weak jobs report fueled concerns about the health of the U.S. economy. The index fell by 1.8%, while the Nasdaq 100 and Russell 2000 also saw significant declines, dropping 2.4% and 3.5% respectively.

The disappointing jobs data has intensified fears that the Federal Reserve’s decision to maintain interest rates at a two-decade high could lead to a more pronounced economic slowdown. This sentiment was echoed by Wall Street giants like Citigroup Inc. and JPMorgan Chase & Co., who are now calling for more aggressive Fed action.

The selloff was further exacerbated by a plunge in key technology companies, with Intel Corp. experiencing a 26% drop due to a grim growth forecast. The volatility index, often referred to as Wall Street’s “fear gauge,” hit its highest level since March 2023.

As traders project that the Fed will cut rates by more than a full percentage point in 2024, the market’s focus has shifted from “when and how much will the Fed ease” to concerns about a potential economic downturn. This shift in sentiment has led to increased volatility and a flight from riskier assets.

The latest jobs figures suggest that the Fed’s policies may be cooling the labor market too much, raising questions about whether the central bank has been too slow to act. As the market grapples with these uncertainties, investors are taking money off the table and booking profits, leading to continued near-term volatility.


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