September 16, 2011
Reps. Devin Nunes (Calif.), Ron Kind (Wis.), Tom Cole (Okla.), Earl Blumenauer (Ore.) and Sens. Debbie Stabenow (Mich.) and John Thune (S.D.) this week announced the bi-cameral introduction of legislation that will provide a tax exemption for agricultural research.
The legislation seeks to spur the research and innovation necessary to double food production by 2050 when the global population is estimated to exceed 9 billion. In addition, it will help American farmers to survive in an increasingly regulated environment, which impacts agricultural emissions as well as the use of pesticides and fertilizers.
To encourage private donations, the Charitable Agricultural Research Act would authorize the creation of a new type of charitable, tax-exempt organization to allow private monies to fund agricultural research. Each agricultural research organization would work in conjunction with agricultural and land-grant colleges and universities to conduct research in the field of agriculture, complimenting existing public and private research.
More than 40 agricultural organizations, including the American Sheep Industry Association, support the bill.