FARM BILL: Extension Deadline Looming
An Iowa Congressman is warning that the price of a gallon of milk could double if Congress does not act before the Farm Bill expires at the end of the month.
Congress extended the Farm Bill after the fiscal cliff deal in January. That extension expires September 30th.
Leaders tried to pass a Farm Bill this summer. The Senate passed one in June but a few weeks later the House failed to do so.
One Congressman said if a Farm Bill is not passed the price of milk will go back to an agricultural bill passed in the 1940’s.
“If milk prices go up that is going to be horrible. It’s going to be as bad as gasoline going up to $6 a gallon, maybe even worse,” said Congressman Dave Loebsack.
It does not help that Congress is coming back from nearly six weeks of vacation while the Farm Bill deadline is approaching, Loebsack added.