Deal reached for stopping spike in milk prices
WASHINGTON (AP) - The top leaders in both parties on the House and Senate Agriculture committees have agreed to a one-year extension of the 2008 farm bill that expired in October, a move that would head off a possible doubling of milk prices next month.
Senate Agriculture Committee Chairman Debbie Stabenow indicated that the House could vote on it as early as Sunday evening.
The agreement to extend current farm law until next October was reached as negotiators hit a snag on averting a broader fiscal cliff combination of higher taxes and spending cuts Jan. 1.
Agriculture Secretary Tom Vilsack said Americans faced the prospect of paying $7 for a gallon if the current dairy program lapsed and the government returned to a 1948 formula for calculating milk price supports.
Senate Agriculture Committee Chairman Debbie Stabenow indicated that the House could vote on it as early as Sunday evening.
The agreement to extend current farm law until next October was reached as negotiators hit a snag on averting a broader fiscal cliff combination of higher taxes and spending cuts Jan. 1.
Agriculture Secretary Tom Vilsack said Americans faced the prospect of paying $7 for a gallon if the current dairy program lapsed and the government returned to a 1948 formula for calculating milk price supports.
I bet the price of milk would PLUMMET if the DOA would just let the market dictate the price. Sorry farmers and dairymen, this program has to go. It is not the job of the Federal government to restrict competitors in the marketplace. What next? Paying farmers not to grow crops?
Wait...
 @Getov Mylon The problem with so many of the DOA programs is that they don't benefit the family farmer much at all. They have great benefits to large agribusinesses. I could put a few acres on our farm in the CRP program but I don't grow crops in the areas anyway, they are basically wetlands that I like having as wetlands for the frogs, salamanders and birds that inhabit them. Just wish I could get rid of the invasive reed canary grass.
 @jcman Yet, when these programs are touted, they always trot out the family farms as being the beneficiary and if we oppose them, we are mean ol' Farmer Haters. I am shocked to find out that agribusiness and the crony insider corporations are the recipient of government largess. Knock me over with a combine...