Milk Could Go Up To $7 A Gallon
(CNN) – It’s not just the fiscal cliff, there could also be a dairy cliff.
Beginning next year, you could be paying as much as seven dollars for a gallon of milk if Congress doesn’t step in.
With all the concerns over the fiscal cliff, several other legislative matters are falling by the wayside, including a stalled farm bill. The Senate has passed a new farm bill, but the House hasn’t.
Several protections for farmers have already expired, and several more are set to do so over the next few months.
One of them is the dairy subsidy, which ends January 1.
If Congress doesn’t act before then, the U.S. would revert back to a 63-year-old dairy policy.
That would force the government to buy milk at inflated prices, driving up the cost for everyone.