FarmPolicy

January 26, 2020

Climate Issues; Legislative Branch Ag Issues; Estate Taxes; and Crop Insurance

Categories: Climate Change

Climate Issues

Reuters news reported yesterday that, “The lion’s share of revenue earned by U.S. farmers for controlling greenhouse gases under a House-passed climate bill would be paid for growing trees, analysts told an Agriculture subcommittee on Thursday.

“‘The primary source of agricultural offsets would be carbon sequestration through afforestation of crop and pastureland,’ said Joe Glauber, Agriculture Department chief economist.

Some 85 percent of revenue from agricultural offsets from 2015-2050 would arise from creation of woodlands, said Glauber. The Congressional Budget Office estimated forestry would account for 90 percent of agricultural offsets in 2030.”

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