Lawmakers reach tentative agreement to keep milk prices down

Lawmakers reach tentative agreement to keep milk prices down
News
Monday, December 31, 2012 - 4:53pm

There's still no deal on the fiscal cliff, but lawmakers have reached a tentative agreement to keep your milk prices from going up in the new year.

Democratic Senator Debbie Stabenow said Sunday that the House and Senate have developed a short-term farm bill extension that lawmakers said would last one year.

But, so far, it's unclear when the House will bring the measure to a vote.

If the measure isn't passed before Jan. 1, the formula for calculating the price the government pays for dairy products defaults back to a 1949 statute.

Under that formula, the government would be forced to buy milk at twice today's price driving up the cost for everyone. 

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