$8 per gallon milk unexpected consequence of ‘fiscal cliff’

[sharenow]

While most conversations centering around the ‘fiscal cliff’ crisis entail increasing taxes, other consequences loom that would impact the everyday lives of millions.

According to a Fox News report, the expiration of a bill that covers billions of dollars in agricultural programs could result in a spike in the price of milk, even doubling, to reach a cost of $8 per gallon.

The Senate has passed a farm bill, but the bill passed by the agricultural committee is not identical. The full House of Representatives would need to pass it before averting the crisis.

As an added incentive to solve the problem, Chris Galen of the National Milk Producers Federation says if the bill is passed, it will provide “tens of billions of dollars in budget savings.”

A quick conference committee meeting could iron out the differences in order to avoid this “dairy fiscal cliff,” reports Fox News.

See the full report here:

 

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