On Tuesday, Senator Crapo and NWF's own John Kostyack sat down to discuss the specifics of the Endangered Species Act tax incentive bill on E&E TV (video).

The Endangered Species Recovery Act of 2007, sponsored by Sens. Mike Crapo (R-Idaho) and Blanche Lincoln (D-Ark.), seeks to provide farmers with tax incentives to protect the endangered species on their land. During today's OnPoint, Sen. Mike Crapo (R-Idaho) and National Wildlife Federation senior counsel John Kostyack discuss this new piece of legislation. They explain how it differs from previous ESA legislation and talk about how they were able to gain bipartisan support and the support of both farmers and environmentalists.

When the transcript becomes available, it will be here.

Excerpts from yesterday's AP story on the bill are below.

Landowners frustrated by the Endangered Species Act might get a carrot instead of the stick under a proposed revision of the law that would offer them tax incentives to give the critters a home. That approach is emerging as a narrower alternative to a comprehensive overhaul of the endangered species law, a priority for Republicans before Democrats took control of Congress this year.

Several senators, including the Democratic chairman and senior Republican on the tax-writing Senate Finance Committee, are supporting a bill offering to $2.7 billion in tax credits over 10 years to landowners who take steps to help endangered species recover.

This compromise may, in effect, save the Endangered Speciest Act from being gutted. By offering a solution that both environmental groups and landowners can get behind, this initiative is likely to garner broad support.