Failure to reach fiscal cliff deal could bring milk prices to $8 per gallon
Americans are in danger of having insult added to the injury of a fall from the fiscal cliff — milk prices could rise to as much as $8 a gallon if Congress does not deliver a farm bill fix.
As President Obama and congressional leaders try to cut a deal to avoid the cliff’s sharp tax increases and spending cuts, agriculture committees in the House and Senate are trying to hammer out a short-term extension of the farm bill that expired Sept. 30.
If a new bill is not passed by Tuesday, prices for milk would by law be set by standards that date to 1949, which could fuel a sharp increase from the national average of $3.50 a gallon.
how does that make you feel... thirsty for more ?
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