U.S. farm-state lawmakers agree to farm subsidy law extension

[Eugene]

Source: Reuters

WASHINGTON | Sun Dec 30, 2012 12:10pm EST

(Reuters) - Farm-state lawmakers have agreed on a one-year extension of a farm law that, if enacted, would head off a possible doubling of U.S. milk prices to $7.OO or more a gallon in 2013.

The compromise resulted from bipartisan discussions in the House of Representatives' Agriculture Committee and talks with colleagues in the U.S. Senate, Frank Lucas of Oklahoma, the House panel's chairman, said in a statement on Sunday.

"It is not perfect - no compromise ever is - but it is my sincere hope that it will pass the House and Senate and be signed by the President by January 1," Lucas, a Republican, said.

(Reporting by Jim Wolf; Editing by Maureen Bavdek; )

Read more: http://www.reuters.com/article/2012/12/30/us-farm-bill-compromise-idUSBRE8BT07T20121230

[Enrique]

1. socialism!

[pinto]

2. Good news. I hope it's comprehensive, i.e.

includes funding for federal / state nutrition programs that fall under the overall law.

[DCKit]

7. Pretty sure it's a separate deal. They're looking to cut the hell out of any....

aid to women and children. I believe there are three programs on the chopping block.

[pinto]

10. Yeah. I was thinking this might be a "carve out" from the larger legislation.

We'll see pretty soon.

[zeemike]

3. Why not let prices rise.

I can think of good reason to do it myself...for one most milk is used by kids to put on their sugary cereals and with less of it they will eat less of that crap.
Secondly it would make local milk producers better off in competing with the mega farms for market share....and again better for health because no growth hormones and chemicals in the milk...I would love to see the day where an independent dairy producer did well and sold directly to the public.
But whatever congress does it will benefit the corporation.

[John2]

5. All I know

is I love milk, especially with Breakfast.

[songbookz]

6. Heavy burden for young families

$8 dollar a gal milk would place a heavy burden on young families. Milk is needed for children under 2 who are off formula or breast milk. My grandchildren don't get sugary cereal when they spend the night or when I babysit while school's out. They get (generic versions of) Cheerios and Raisin bran.

[WhoWoodaKnew]

4. Wow. An 11th hour deal.

Who woulda thunk it.

[eilen]

8. The big misdirection is the statement about milk prices

This is a deal to ensure big subsidies to corn growers/agribusiness. This deal will ensure the free flow of HFCS because believe me, those obese little snowflakes didn't get that way drinking milk.

[elleng]

9. Its about food stamps,

and cantor wouldn't permit votes.

'But the House bill, with large cuts in food-stamp funding for lower-income Americans, has never been brought to a vote by the full House. The Senate and House have for months remained far apart on the issues of food stamps and crop subsidies.

Lucas said the year-long extension "provides certainty to our producers and critical disaster assistance to those affected by record drought conditions."

It would also mean another round of the direct subsidies to farmers that cost about $5 billion a year, and that both sides of debate had agreed earlier to eliminate.'