Milk May Cost More Than Gas Soon

Thanks to Congress, the cost of a gallon of milk may double next year.

Better Investing

The Huffington Post says milk prices could top $6 a gallon next year, thanks to a recently expired farm bill that Congress neglected to act on…

The Farm Bill currently regulates the price of milk. Without the bill, milk prices are projected to climb around four times higher than what the current bill permits, which could lead to skyrocketing prices in grocery stores across the country.

That bill paid for a lot of things, ranging from farming subsidies to food stamps. You can read a summary of other effects from the farm bill’s lapse at The Washington Post.

In theory, they could renew it before the end of the year and avoid price hikes. But leaders in Congress have said that won’t happen until at least after the election. Don’t you love politics?

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