The opposition has been targeting Mr Taylor over allegations he tried to use his position to water down environmental protections for the native grasslands, which a company he part-owns cleared on a NSW farm.

Labor failed to set up a Senate inquiry into the minister's dealings by a single vote on Monday, after One Nation sided with the government to block the investigation.

However, Opposition Leader Anthony Albanese is not letting the matter rest.

"He has real questions to answer and we'll continue to pursue these issues," Mr Albanese told reporters in Canberra on Tuesday.

"This is a very serious abuse of power by a minister in a government that abuses power all the time."

Labor deputy leader Richard Marles blames One Nation leader Pauline Hanson for the inquiry into the minister falling flat.

"Just because Pauline Hanson is running interference for the government doesn't mean Angus Taylor has suddenly provided a credible explanation," Mr Marles told ABC Radio.

"The truth of it is, he hasn't provided that explanation at all.

"What we're seeing here is the government out there, trying to really defend the indefensible."

Mr Taylor has consistently argued he did nothing wrong, was lobbying on behalf of farmers and not himself, and declared his interests in accordance with the rules.

Australian Associated Press