FTMFOLLOW
THE MONEY
THE LEDGER · BILL C-44 (42-1) · S.C. 2017, c. 20 The argument

THE GRAPH One bill · walked end to end · 78 nodes · 95 edges

The Ledger

The argument on the front page asked for a permanent, queryable accountability graph. This is that graph, built to the full vocabulary and populated for a single bill: Budget Implementation Act, 2017, No. 1. Every node and every edge carries a citation. Nothing here is asserted without a link, and the places where Canada does not publish a joinable record are marked as gaps rather than filled in.

50

Acts amended or created

78/95

Nodes / edges, all sourced

15/18

Node types populated

4

Joins Canada will not make

The bill ledger

Ten rows. One link per claim.

An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures — sponsored by the Minister of Finance, Bill Morneau (Toronto Centre). First reading 2017-04-11, royal assent 2017-06-22, enacted as S.C. 2017, c. 20.

What government saidRow 01 · 2016-10-20
The Advisory Council on Economic Growth recommended a national infrastructure bank capitalized with $40B in federal funds, projected to raise over $200B in infrastructure investment over the decade.
What Parliament passedRow 02 · 2017-06-22
Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures. Sponsored by the Minister of Finance. 17 recorded divisions, including two time-allocation motions. Studied by FINA across 10 meetings. Royal assent 22 June 2017 as S.C. 2017, c. 20.
What laws changedRow 03 · 2017-06-22
50 distinct Acts across 4 Parts and 21 Divisions. 4 new Acts created: the Borrowing Authority Act, the Canada Infrastructure Bank Act, the Invest in Canada Act and the Service Fees Act.
What money was authorizedRow 04 · 2017-06-22
s. 23 of the Canada Infrastructure Bank Act permits the Minister of Finance to pay the Bank up to $45,000,000,000 in the aggregate. s. 20 disapplies s. 91 of the Financial Administration Act. s. 19 permits recommending loan guarantees.
What government spentRow 05 · 2025-07-10
The Bank is projected to disburse $14,902M by 2027-28 against a $35,000M mandate, and $20,675M by 2029-30. The PBO's 2021 report projected $15,937M by 2027-28 — the outlook has worsened by 6%.
Who received itRow 06 · 2018-08
First investment: a $1.28B, 15-year senior secured loan at 1% escalating to 3% to the Réseau express métropolitain, ~70% owned by CDPQ Infra, a subsidiary of the Caisse de dépôt et placement du Québec.
Who lobbied for itRow 07 · 2016-10-20
Not answerable from joinable records. The pre-legislative advocacy is on the record — the Advisory Council on Economic Growth, chaired by McKinsey's global managing director, with BlackRock's senior managing director and CDPQ's chief executive among its members. Registered lobbying communications naming the office holders contacted exist but cannot be machine-retrieved.
What was deliveredRow 08 · 2025-07-10
On track in no sector. Public Transit 78% of target by 2027-28, Green Infrastructure 30%, Trade & Transportation 25%, Broadband 74%, Clean Power 45%, Project Acceleration 9%. Indigenous investment met its $1B target.
What it costRow 09 · 2025-07-10
$35B mandate against a $15B net fiscal expense and a $45B statutory ceiling. Green Infrastructure's target was raised from $5B to $10B and Broadband's from $1B to $3B after the fact.
What happenedRow 10 · 2025-07-10
OAG 2021 Report 9 found Infrastructure Canada could not show the $188B Investing in Canada Plan was on track and excluded from its reporting programs predating the plan that account for almost half of it. The Commons Transport Committee reported separately on the Bank in the 44th Parliament. The PBO, restructured by Division 7 of the same bill, now reports the Bank will miss every sector target.
The walk

Law → outcome. Thirteen stages, no breaks.

The chain the front page specified, traversed on real records. Each stage is a node in the graph; the type is the schema type it occupies.

01 Law Bill C-44 (42-1) → S.C. 2017, c. 20 bill · Parliament of Canada 02 Diff 50 Acts touched; 4 Acts created statute · Justice Laws Website 03 Authority Canada Infrastructure Bank Act, s. 403 statute · Justice Laws Website 04 Institution Canada Infrastructure Bank crown corporation · Justice Laws Website 05 Appropriation s. 23 — up to $45B aggregate appropriation · Justice Laws Website 06 Mandate $35B over 11 years; $15B net fiscal expense appropriation · Office of the Parliamentary Budget Officer 07 Financing $1.28B, 15-year senior secured loan at 1%→3% contract · Canada Infrastructure Bank 08 Project Réseau express métropolitain — 67 km, 26 stations project · Canada Infrastructure Bank 09 Ownership CDPQ Infra ~70%; Government of Québec ~30% subsidiary · CDPQ / La Caisse 10 Beneficiary Caisse de dépôt et placement du Québec pension fund · CDPQ / La Caisse 11 Influence Advisory Council on Economic Growth, 20 Oct 2016 program · The Globe and Mail 12 Revolving door CDPQ → Council → CIB Chair → Deputy Minister of Finance official · Office of the Prime Minister 13 Outcome 43% of mandate by 2027-28; no sector on track program · Office of the Parliamentary Budget Officer
What the joins produce

Six statements no single record makes

Each of these needs two or more published sources placed side by side. Each is factual, each is linked, and none of them appeared as a headline.

The Bank's statutory purpose is to attract private and institutional capital. Two-thirds of partner funding since inception has come from the public sector.

On the record

s. 6: "to invest, and seek to attract investment from private sector investors and institutional investors"

Placed against

"Since the CIB was established, two-thirds of partner funding has come from public-sector partners."

statute:canada-infrastructure-bank-act → crown_corporation:cib → program:cib-sectors

Projected to disburse $14.9B of a $35B mandate by 2027-28 — $20.1B short, and on track in no sector.

On the record

Mandate: $35B over 11 years

Placed against

$14,902M by 2027-28; $20,675M by 2029-30; 43% of target. The 2021 PBO report projected $15,937M — the outlook got worse, not better.

appropriation:cib-mandate → program:cib-sectors

Two sector targets were raised after the fact, changing what counts as success.

On the record

Green Infrastructure original target $5B; Broadband original target $1B

Placed against

Current targets $10B and $3B respectively

program:cib-sectors

A member of the council that recommended the Bank was, at the time, chief executive of the pension fund whose subsidiary received the Bank's first loan. He later chaired the Bank, then became Deputy Minister of the department that pays it.

On the record

Michael Sabia, CEO of CDPQ 2009–2020, named on the Advisory Council on Economic Growth that recommended a national infrastructure bank on 20 October 2016

Placed against

August 2018: the CIB's first investment is a $1.28B loan to the REM, ~70% owned by CDPQ Infra, a CDPQ subsidiary. April 2020: Sabia becomes CIB Board Chair. December 2020: Deputy Minister of Finance — the department holding the s. 23 payment power.

official:sabia → pension_fund:cdpq → subsidiary:cdpq-infra → project:rem ← crown_corporation:cib
Note. No allegation of wrongdoing. Every step is a public appointment or a published transaction. The point is that no Canadian system joins them.

The omnibus that created the Bank also restructured the Parliamentary Budget Officer — the office that now reports the Bank is missing every target. Both changes are in Part 4 of C-44.

On the record

Part 4, Division 7: Parliamentary Budget Officer and Board of Internal Economy, s. 122

Placed against

Part 4, Division 18: Canada Infrastructure Bank Act, s. 403

bill:c-44-42-1 → statute:parliament-of-canada-act-pbo + statute:canada-infrastructure-bank-act

Debate on a bill amending 50 Acts was time-allocated twice, and all 12 report-stage amendments were negatived.

On the record

Divisions 265 (173–123) and 291 (166–124): time allocation, both agreed to

Placed against

Divisions 293–303: twelve report-stage amendments, all negatived

bill:c-44-42-1
Schema coverage

15 of 18 node types carry records

The schema is the full vocabulary from the specification. Populating it for one bill shows exactly which parts of Canada’s political economy are recordable today and which are not. The empty cells are the finding, not an omission.

bill

1

statute

52

regulation

0

department

3

minister

2

official

5

appropriation

2

program

3

contract

1

corporation

2

subsidiary

1

director

1

shareholder

0

lobbyist

0

financial institution

1

pension fund

1

crown corporation

2

project

1

Edge types populated: 10 of 14 Empty = no joinable Canadian record for this bill

amended

60

repealed

0

authorized

8

funded

4

contracted

1

subcontracted

0

owned

2

financed

5

guaranteed

0

lobbied

4

employed

7

regulated

3

transferred

0

invested

1

Decision desk

The joins Canada does not publish

This desk holds no secrets. Every dataset below is public. What is missing is the key that would let one be read against another.

bill / statute → registered lobbying communications

The question
Which registrants contacted which designated public office holders about the infrastructure bank, and when.
Published?
Yes — Monthly Communication Reports name the DPOH, the registrant, the client and the subject matter, monthly, since 2008.
Why it will not join
The bulk CSV is served from lobbycanada.gc.ca behind an interstitial challenge that refuses automated retrieval, including from a headless browser. The dataset is catalogued on the Open Government portal but carries no datastore API, so there is no machine-readable path to it.

The single richest influence dataset in Canada — better than anything the United States publishes — cannot be joined to legislation without scraping a challenge-gated endpoint.

bill → sponsor's political financing

The question
Money from the beneficiaries of a bill to the people who passed it.
Published?
Yes — Elections Canada publishes every contribution over $200 with name, city, province and postal code, weekly, back to 2004.
Why it will not join
Not blocked — empty. Corporate and union contributions have been prohibited federally since 2004-06 and individuals are capped near $1,800 a year. There is no federal money edge of a size that would explain a $35B institution.

The American question does not have a Canadian answer. Influence here runs through advisory appointments, access and procurement, not donations — which is why the lobbying join above matters more.

appropriation → contract → subcontract → beneficial owner

The question
Following a dollar from the vote in Parliament to the person who ultimately receives it.
Published?
Partly. Contracts over $10,000 are proactively disclosed; the federal beneficial ownership registry covers CBCA corporations only.
Why it will not join
Procurement disclosure carries no stable identifier linking an award to the appropriation that funded it or to a corporate registry entry. Subcontracts are not disclosed at all.

The chain breaks at exactly the point where the money reaches a private party.

commitment → outcome, at the level of the provision

The question
Whether a specific clause did what it was said to do.
Published?
Departmental results reports, OAG and PBO findings exist.
Why it will not join
None of them are keyed to bill, division or section. The OAG found Infrastructure Canada's own reporting excluded programs predating the Investing in Canada Plan that account for almost half of its $188B.

Outcome evidence exists but cannot be attached to the words that authorized the spending.

Promise against outcome

What was promised, what will arrive

Sector targets and projected disbursements in millions of dollars, from the Parliamentary Budget Officer’s 10 July 2025 update. Two of these targets were raised after the fact.

Projected disbursements and gaps with targets · millions of dollars · source: PBO Table 3
SectorTargetBy 2027-28 By 2029-30Achieved by 2027-28Gap 2027-28 Target changed
Public Transit 5,0003,919 5,178 78% 1,081
Green Infrastructure 10,0002,999 3,943 30% 7,001from $5,000M to $10,000M
Trade & Transportation 5,0001,246 1,704 25% 3,754
Broadband 3,0002,229 2,724 74% 771from $1,000M to $3,000M
Clean Power 10,0004,465 7,043 45% 5,535
Project Acceleration 50046 82 9% 454
Total 35,00014,902 20,607 43% 20,098

PBO Table 3. Green Infrastructure's target was raised from $5B to $10B and Broadband's from $1B to $3B after the fact.

Office of the Parliamentary Budget Officer
The omnibus diff

50 Acts, one bill, four Parts, twenty-one Divisions

Derived mechanically from the table of provisions of S.C. 2017, c. 20. This is the dependency graph the front page said someone has to construct. It took a script and one public page.

Every Act touched by C-44 62 references
Part 4 divisions carry their own subject matter; a single Act can be touched by several divisions
PartDivDivision subject ActRelationFrom s.
1 Budget Implementation Act, 2016, No. 1 amended 31
1 Income Tax Act amended 30
1 Income Tax Regulations amended 34
3 Economic Action Plan 2014 Act, No. 1 amended 67
3 Excise Act amended 45
3 Excise Act, 2001 amended 66
42 Public DebtBorrowing Authority Act enacted 104
42 Public DebtBudget Implementation Act, 2016, No. 1 amended 107
42 Public DebtFinancial Administration Act amended 105
42 Public DebtHibernia Development Project Act amended 106
43 Financial Sector StabilityBank Act amended 112
43 Financial Sector StabilityCanada Deposit Insurance Corporation Act amended 111
46 Financial Assistance for StudentsCanada Education Savings Act amended 121
46 Financial Assistance for StudentsCanada Student Financial Assistance Act amended 117
47 Parliamentary Budget Officer and Board of Internal EconomyAccess to Information Act amended 158
47 Parliamentary Budget Officer and Board of Internal EconomyCanada Post Corporation Act amended 159
47 Parliamentary Budget Officer and Board of Internal EconomyConflict of Interest Act amended 189
47 Parliamentary Budget Officer and Board of Internal EconomyExpenditure Restraint Act amended 190
47 Parliamentary Budget Officer and Board of Internal EconomyFederal Courts Act amended 160
47 Parliamentary Budget Officer and Board of Internal EconomyFinancial Administration Act amended 161
47 Parliamentary Budget Officer and Board of Internal EconomyGarnishment, Attachment and Pension Diversion Act amended 171
47 Parliamentary Budget Officer and Board of Internal EconomyGovernment Employees Compensation Act amended 172
47 Parliamentary Budget Officer and Board of Internal EconomyLanguage Skills Act amended 191
47 Parliamentary Budget Officer and Board of Internal EconomyNon-smokers’ Health Act amended 179
47 Parliamentary Budget Officer and Board of Internal EconomyOfficial Languages Act amended 185
47 Parliamentary Budget Officer and Board of Internal EconomyParliament of Canada Act amended 122
47 Parliamentary Budget Officer and Board of Internal EconomyParliamentary Employment and Staff Relations Act amended 178
47 Parliamentary Budget Officer and Board of Internal EconomyPublic Sector Compensation Act amended 186
47 Parliamentary Budget Officer and Board of Internal EconomyPublic Service Employment Act amended 187
47 Parliamentary Budget Officer and Board of Internal EconomyPublic Service Superannuation Act amended 173
47 Parliamentary Budget Officer and Board of Internal EconomyRadiocommunication Act amended 173.1
47 Parliamentary Budget Officer and Board of Internal EconomyRoyal Canadian Mounted Police Act amended 174
411 Support for Families: Benefits and LeavesCanada Labour Code amended 259
411 Support for Families: Benefits and LeavesEmployment Insurance Act amended 229
412 Canadian Forces Members and VeteransBudget Implementation Act, 2016, No. 1 amended 299
412 Canadian Forces Members and VeteransCanadian Forces Members and Veterans Re-establishment and Compensation Act amended 288
412 Canadian Forces Members and VeteransDepartment of Veterans Affairs Act amended 292
412 Canadian Forces Members and VeteransJobs, Growth and Long-term Prosperity Act amended 298
412 Canadian Forces Members and VeteransPension Act amended 291
415 Agreements — Minister of TransportAeronautics Act amended 314
415 Agreements — Minister of TransportCanada Shipping Act, 2001 amended 317
415 Agreements — Minister of TransportNavigation Protection Act amended 315
415 Agreements — Minister of TransportRailway Safety Act amended 316
417 Labour and Employment LawsCanada Labour Code amended 378
417 Labour and Employment LawsHazardous Materials Information Review Act amended 396
417 Labour and Employment LawsParliamentary Employment and Staff Relations Act amended 395
417 Labour and Employment LawsPublic Servants Disclosure Protection Act amended 398
417 Labour and Employment LawsPublic Service Labour Relations Act amended 397
417 Labour and Employment LawsWage Earner Protection Program Act amended 382
418 Canada Infrastructure Bank ActAccess to Information Act amended 405
418 Canada Infrastructure Bank ActCanada Infrastructure Bank Act enacted 403
418 Canada Infrastructure Bank ActFinancial Administration Act amended 406
418 Canada Infrastructure Bank ActPayments in Lieu of Taxes Act amended 407
419 Proceeds of Crime (Money Laundering) and Terrorist Financing ActEconomic Action Plan 2014 Act, No. 1 amended 436
419 Proceeds of Crime (Money Laundering) and Terrorist Financing ActProceeds of Crime (Money Laundering) and Terrorist Financing Act amended 439
420 Invest in Canada ActAccess to Information Act amended 445
420 Invest in Canada ActFinancial Administration Act amended 448
420 Invest in Canada ActInvest in Canada Act enacted 442
420 Invest in Canada ActPrivacy Act amended 449
420 Invest in Canada ActPublic Service Superannuation Act amended 450
421 Modernization of Service FeesEconomic Action Plan 2014 Act, No. 1 amended 454
421 Modernization of Service FeesService Fees Act enacted 452
What Parliament actually did

Seventeen recorded divisions

Two time-allocation motions carried; twelve report-stage amendments negatived. Retrieved as structured data from LEGISinfo, not transcribed.

Every recorded division on C-44 17 votes
No.DateSubjectYeas NaysResult
2652017-05-09 Time allocation for Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures173123 Agreed To
2672017-05-09 2nd reading of Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures (reasoned amendment)127171 Negatived
2682017-05-09 2nd reading of Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures170128 Agreed To
2912017-06-05 Time allocation for Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures166124 Agreed To
2932017-06-06 Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures (report stage amendment)95210 Negatived
2942017-06-06 Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures (report stage amendment)134169 Negatived
2952017-06-06 Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures (report stage amendment)82218 Negatived
2962017-06-06 Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures (report stage amendment)135169 Negatived
2972017-06-06 Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures (report stage amendment)95209 Negatived
2982017-06-06 Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures (report stage amendment)126178 Negatived
2992017-06-06 Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures (report stage amendment)134168 Negatived
3002017-06-06 Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures (report stage amendment)133168 Negatived
3012017-06-06 Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures (report stage amendment)134168 Negatived
3022017-06-06 Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures (report stage amendment)93209 Negatived
3032017-06-06 Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures (report stage amendment)133169 Negatived
3042017-06-06 Concurrence at report stage of Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures169133 Agreed To
3162017-06-12 3rd reading and adoption of Bill C-44, An Act to implement certain provisions of the budget tabled in Parliament on March 22, 2017 and other measures162127 Agreed To
Committee consideration 10 meetings
CommitteeMeetingDate
FINA872017-05-10
FINA882017-05-11
FINA892017-05-15
FINA902017-05-15
FINA912017-05-16
FINA922017-05-17
FINA932017-05-18
FINA942017-05-18
FINA952017-05-29
FINA962017-05-30
Evidence

Every source, once

Primary records unless marked otherwise. Three were read by machine rather than by hand, which is the point of the exercise.

primary · legisinfo

LEGISinfo — Bill C-44 (42-1), structured record

Parliament of Canada

machine-read into the graph

primary · sc2017c20

Statutes of Canada 2017, c. 20 — table of provisions

Justice Laws Website

machine-read into the graph

primary · cibact

Canada Infrastructure Bank Act (S.C. 2017, c. 20, s. 403)

Justice Laws Website

primary · si201740

Order Designating the Minister of Infrastructure, Communities and Intergovernmental Affairs for the purposes of the Act (SI-2017-40)

Justice Laws Website

primary · pbo2025

Update on the Spending Outlook of the Canada Infrastructure Bank, 10 July 2025

Office of the Parliamentary Budget Officer

machine-read into the graph

primary · oag2021r9

2021 Reports of the Auditor General — Report 9, Investing in Canada Plan

Office of the Auditor General of Canada

primary · tran44r3

The Canada Infrastructure Bank — Report 3, Standing Committee on Transport, Infrastructure and Communities (44-1)

House of Commons

primary · cibrem

CIB invests $1.28B in a 15-year loan for the REM

Canada Infrastructure Bank

primary · caisserem

Canada Infrastructure Bank invests in Réseau express métropolitain project with $1.28 billion, 15-year loan

CDPQ / La Caisse

primary · cibchair2020

Changes in leadership at the Canada Infrastructure Bank, 3 April 2020

Infrastructure Canada

primary · pmsabia

Michael Sabia — backgrounder, 7 December 2020

Office of the Prime Minister

secondary · acegrowth

Morneau's economic growth council calls for national infrastructure bank, 20 October 2016

The Globe and Mail

Reports the Advisory Council on Economic Growth's first-wave recommendation and names council members with their employers.

secondary · sabiadm

Veteran executive Michael Sabia named next deputy minister of Finance

CBC News

Appointment announced 10 December 2020, effective 14 December 2020.

primary · oclcomms

Monthly Communication Reports (open data)

Office of the Commissioner of Lobbying of Canada

Dataset located and catalogued. Bulk CSV retrieval blocked — see blocked joins.

primary · eccontrib

Contributions to all political entities, as filed (open data)

Elections Canada

Not joined for this bill — no federal corporate or union donations exist to join.

Method and limits

How this was built, and what it is not

What a machine did

The bill record — stages, sponsor, seventeen recorded divisions, ten committee meetings — was read as structured data from LEGISinfo. The 50-Act amendment graph was derived by parsing the table of provisions of S.C. 2017, c. 20 on the Justice Laws site. The sector delivery table was extracted from the Parliamentary Budget Officer’s July 2025 PDF. Those three joins are reproducible: re-run the scripts and you get this page.

What a person did

The influence, ownership and revolving-door nodes were assembled by hand from named public records — a designation order, two ministerial releases, a Prime Minister’s Office backgrounder, two press releases from the parties to the loan, an Auditor General report and a committee report. Every one is linked. Two sources are marked secondary: they are news reporting used for a date and a job title, not for a dollar figure.

What this is not

It is not an allegation. Nothing here asserts that any person broke a rule. Every step in the Sabia chain is a published appointment or a published transaction; the finding is that no Canadian institution joins them, so no citizen can see the sequence without doing what this page did. It is also not complete: 3 node types and 4 edge types are empty, because the records that would fill them either are not published, are not keyed to anything, or are gated against retrieval.

Depth one

This is one bill. The schema is the whole vocabulary, so the next bill adds rows rather than a rebuild. That is the difference between an article and an accounting system.

The data and the code

The graph is served as it was built: graph.json — 78 nodes, 95 edges, 15 sources, every record carrying its citation. The three machine joins are published with it, so the claim above is checkable rather than asserted: extract_statutes.py parses the table of provisions into the amendment graph, build_graph.py assembles nodes and edges and refuses any record without a citation, and gen_site.py renders this page from the result. Take it and extend it.