OMAHA, NEB. (RFD NEWS) — A recent U.S. Tax Court ruling confirms that innovations in livestock production do qualify for the Research and Development (R&D) Tax Credit, opening the door for more producers to take advantage of the long-standing incentive.
U.S. Secretary of Agriculture under President George W. Bush and former Nebraska lawmaker Mike Johanns, who now serves as Alliant’s Chairman of Agriculture, joined us on Friday’s Market Day Report to discuss what he has described as a watershed moment for agriculture.
In his interview with RFD NEWS, Johanns explains how the ruling applies to livestock production, common practices that may qualify for the R&D credit, what producers should know about eligibility, and whether it extends across the industry.
Johanns also outlines the potential benefits for livestock producers, including the types of benefits they could receive by claiming the credit. He also addresses whether the incentive can be redeemed this tax season, how farmers can claim it, and offers advice for farmers and agribusinesses, livestock or otherwise, as they consider pursuing the R&D credit.
Before wrapping up, Johanns reflects on the current state of the agricultural economy and shares what he views as key issues across the agriculture industry today. in the industry today.
The agriculture workforce remains strong and diverse, offering meaningful pathways for students pursuing careers that support the food and farm economy.
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Screwworm.gov has targeted resources for a wide range of stakeholders, including livestock producers, veterinarians, animal health officials, wildlife professionals, healthcare providers, pet owners, researchers, drug manufacturers, and the general public.
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Mike Steenhoek of the Soy Transportation Coalition discusses industry reactions to the proposed Union Pacific–Norfolk Southern merger, the Surface Transportation Board’s review process, and current conditions on the Mississippi River.
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Richard Gupton of the Agricultural Retailers Association explains a new resource designed to help farmers comply with ESA-related pesticide label requirements.
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Sen. Roger Marshall discusses the Senate’s unanimous passage of the Whole Milk for Healthy Kids Act and what expanded milk options could mean for students and dairy farmers. Industry groups say it is a win for student nutrition and dairy producers.
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Crop producers face tightening credit and lower incomes, while strong cattle markets continue to stabilize finances in livestock-heavy regions.
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Supplemental Disaster Relief Program Stage Two will disburse around $16 billion, approved by Congress last year. Sign-ups begin Monday, and producers have until April to return applications.
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Early Cattle-on-Feed estimates point to slightly tighter cattle supplies, reinforcing the need to monitor prices and timing for winter marketing.
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Removing the 40% duty sharply lowers U.S. beef import costs on beef, coffee, fertilizer and fruit, and restores Brazil’s competitiveness during a period of tight domestic supply.
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