The top lawmakers on the Congressional Agriculture Committees are prepared with a plan to avert the dairy cliff, NBC News has learned. This is an agreement between Democrats and Republicans who run those committees and oversee the massive FARM bill that affects the entire food industry and 16 million agriculture related jobs.
NBC has learned that this FARM offer -- which will be discussed during President Barack Obama's meeting with House and Senate leaders from both parties on the broader fiscal cliff -- would likely get the most attention as a "keep-milk-affordable" proposal.
Without action by Congress, dairy prices would begin to soar to an estimated $8 dollars per gallon beginning in January. The pricing would revert to 1940s farm policy, when milk costs were tied to a more labor intensive production. Dairy is the first of many food sectors that would be affected based on their respective seasons.