Producer Support Program May Be Billions Over Budget
A taxpayer-funded program to help dairy farmers cope with slumping milk prices will likely cost billions of dollars more than expected, from an original cost of $1.3 billion to a new estimate of as much as $4 billion, a federal official said last month.
A taxpayer-funded program to help dairy farmers cope with slumping milk prices will likely cost billions of dollars more than expected, from an original cost of $1.3 billion to a new estimate of as much as $4 billion, a federal official said last month.
The Milk Income Loss Contract program, or MILC, was launched late last year to help milk producers cope with dips in the market price. Milk prices have been in a long slump that saw prices drop to 20-year lows.