TribLIVE

| USWorld


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

Deal reached on farm bill

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. Carnegie Mellon expert to school Congress on security
  2. Tribune-Review poll: Cable news rises as network news falls
  3. Lawmakers press Veterans Affairs for improved access to rural health care
  4. EPA ripped for evading request for information
  5. Maryland’s Senator Mikulski announces retirement
  6. IRS audits of businesses reach 8-year low
  7. Clinton portrait refers to Lewinsky scandal, Philadelphia artist says
  8. Several states in path of wintry blasts
  9. Los Angeles rookie officer claims shooting victim grabbed his gun
  10. Supreme Court’s health care law ruling worries 34 states
  11. Supreme Court justices split on states’ panels to prevent gerrymandering