| USWorld

Larger text Larger text Smaller text Smaller text | Order Photo Reprints

Deal reached on farm bill

Email Newsletters

Click here to sign up for one of our email newsletters.

Daily Photo Galleries

By Gannett News Service
Sunday, Dec. 30, 2012, 8:40 p.m.

WASHINGTON — Leaders on the Senate and House Agriculture committees announced a deal on Sunday to extend the 2008 farm bill by a year, an agreement that could avoid a surge in market prices for milk and other commodities.

The measure, which has to be approved by votes in both chambers of Congress, would give lawmakers another year to iron out a deal. The 2008 farm bill expired on Sept. 30, but a failure to have a law in place would have its biggest impact on the agricultural sector next year, beginning with milk.

Dairy subsidies under the 2008 farm bill expire on Monday, and without a bill in place, prices paid by the government to farmers would revert to 1949 levels. Economists have warned that the price consumers pay for milk could double as a result. Wheat and other commodities would be affected later in 2013.

Subscribe today! Click here for our subscription offers.



Show commenting policy

Most-Read Nation

  1. Floods inundate Phoenix
  2. About 6,000 drug inmates await early release from prison
  3. Michigan factory supervisor wins $310M Powerball prize
  4. Boston art lovers stage mock anti-Renoir protest
  5. Amtrak CEO says safety mandate threatens service outside Northeast corridor
  6. Big firms park $2.1T offshore to avoid taxes, study claims
  7. Number of deported lowest since 2006, AP finds
  8. Fantasy sports websites draw Congress’ eye
  9. Top U.S. general wants more troops in Afghanistan
  10. Damage from trillions of gallons of rain in week will cost S.C. over $1B
  11. Hillary Clinton kept in touch with key donors, emails show