A proposal put forth by Senate Republicans to extend the milk income loss contract program has been postponed indefinitely by the Senate Agriculture Committee.

The plan, offered by Senate Ag Committee Chairman Saxby Chambliss, R-Ga., would have extended the MILC program for two years. However, whenever milk prices fall below the current trigger point, producers would receive payment equal to 34 percent of the difference – instead of the current 45 percent difference – between the current price and the trigger price.

Some Senate committee members expressed concern about extending the MILC program at the expense of other commodity programs. And pressing the deal for MILC threatened to derail the budget bill, so the committee postponed the matter. The committee did not set a date to reconsider the fate of the MILC program.

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http://www.watertowndailytimes.com/article.php?article_id=15720

WatertownDaily Times