The Farm Bill expires in at the end of September, and if Congress can’t find common ground and pass a reauthorization, milk prices could skyrocket to $6 a gallon.
“They say don’t cry over spilled milk, but you might want to at $6 a gallon, and that might happen October first,” Lauren Simonetti of Fox Business says.
The House voted down a bill back in July. And a version that was passed in the Senate had no resemblance to the House bill, which detached funding for food stamps from the Farm Bill.
Congressman Collin Peterson is the ranking member of the House Agriculture Committee, and is threatening to bring back a draconian 1949 law that would send milk prices through the roof.
“Absolutely not. There’s nothing that’s going to happen regarding the price of milk,” Jerry Slombinski, Senior Vice President for Legislative Affairs and Economic Policy with the International Dairy Foods Association told KTRH News. “There’s been some confusion on that, but there’s not any chance that that old law is coming back again.”
As the saying goes, the proof is in the pudding, which requires milk to make. While debating Syria, the budget, the debt ceiling and more, perhaps Congress will have the time to work of their differences and come to terms on a new Farm Bill. Or maybe not.