Halted Bill In U.S. House Could Mean Higher Milk Prices
By: WROC-TV
Updated: December 13, 2012
Senator Charles Schumer says if a new farm bill is not passed in the House by the end of the year, we could see milk prices skyrocket.
He is calling it the "Dairy Cliff," which could see milk prices reaching $6 per gallon. If the bill is not passed, a dairy law from 1949 kicks in which requires the government to buy things like milk, cheese and butter at prices higher than market rate. Schumer also says upstate dairy farmers could lose federal assistance. The Senate passed the new farm bill back in June.
He is calling it the "Dairy Cliff," which could see milk prices reaching $6 per gallon. If the bill is not passed, a dairy law from 1949 kicks in which requires the government to buy things like milk, cheese and butter at prices higher than market rate. Schumer also says upstate dairy farmers could lose federal assistance. The Senate passed the new farm bill back in June.
