NMPF Supports Senate Legislation to Create Tax Incentive for Investments in Biogas and Nutrient Recovery
July 20, 2016
ARLINGTON, VA – The National Milk Producers Federation today endorsed new Senate legislation that would help dairy farmers increase their investment in technologies that can improve water and air quality and maximize the value of nutrients.
Senate Bill 3248, introduced by Sens. Sherrod Brown (D-OH) and Pat Roberts (R-KS) of the Senate Finance Committee, mirrors legislation introduced by the House of Representatives in June. Like the House bill, S. 3248 will modify Section 48 of the tax code to make biogas systems and nutrient recovery technologies eligible for an already-existing 30 percent investment tax credit to cover capital costs. This needed policy change will help dairy farmers to reduce their environmental footprint, both on their farms and in their communities.
“Dairy farmers are environmentalists who realize the potential value of the nutrients they manage, but the cost of installing new technology often poses a major obstacle,” said NMPF President and CEO Jim Mulhern. “We’re pleased that this bipartisan effort to help producers continue toward a sustainable farming future is now moving forward in both chambers.”
Dairy farmers and their industry partners continue to work to embrace the best possible environmental practices. In 2008, the dairy sector voluntarily set a goal of reducing greenhouse gas (GHG) emissions from fluid milk by 25 percent by 2020, and has since undertaken several projects intended to help meet that goal.
The National Milk Producers Federation (NMPF), based in Arlington, VA, develops and carries out policies that advance the well-being of dairy producers and the cooperatives they own. The members of NMPF’s cooperatives produce the majority of the U.S. milk supply, making NMPF the voice of dairy producers on Capitol Hill and with government agencies. For more on NMPF’s activities, visit our website at www.nmpf.org.