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A bipartisan bill in the House would give farmers a 30% tax credit for investments in new agricultural technologies.
The Supporting Innovation in Agriculture Act, introduced by Reps.
Mike Kelly, R- Minn., and Bennie Thompson, D-Miss., would also give tax credits for investments in "precision agriculture" and "controlled environmental agriculture," Politico reports.
"The Supporting Innovation in Agriculture Act will allow for farmers and agricultural leaders to not only succeed today, but it will allow them to better utilize innovative technologies to allow producers to succeed for years to come," Kelly says in a press release.
According to the bill, supply chain disruptions, extreme weather, pests and disease, labor shortages, and inflationary pressures are threatening farmers, but the bill would help offset those costs by providing tax incentives for investments in agricultural technology.
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Spotlight
Europe-wide Call to Support Social Enterprises
Social enterprise leaders throughout Europe are urging local authorities to use their powers to help the third sector grow. During a two-day European Commission event in Strasbourg, councils in member states are called upon to use a variety of methods to support the sector.