Fiscal Cliff could lead to 'udder chaos'

8:19 PM, Dec 26, 2012   |    comments
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Video: Farmageddon: $7 gallon of milk a possibility

(Photo by Justin Sullivan/Getty Images)

SPOKANE, Wash. (KREM) - It's not just the fiscal cliff; there could also be a dairy cliff.

Beginning next year, you could be paying as much as $7 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 U.S. Senate has passed a new farm bill, but the House of Representatives has not.

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, which would force the government to buy milk at inflated prices, driving up the cost for everyone.

KREM

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