Deal could prevent spike in milk prices

Updated: Mon 5:36 AM, Dec 31, 2012

WASHINGTON (AP) - The leaders of the House and Senate Agriculture committees have agreed to a one-year extension of the 2008 farm bill that expired in October, a move that could head off a possible doubling of milk prices next month.

But House leaders have yet to say whether they will allow a vote on it.

The committee leaders announced Sunday that they had agreed on last-minute legislation that would extend the farm bill and replace dairy programs that expire at midnight Tuesday.

But the House GOP has yet to endorse the committees' extension agreement, and leaders are also considering two narrower extension bills: a one-month extension and an even smaller bill that would merely extend dairy policy. As of Sunday night, Republican leaders had not scheduled a vote on any of them.

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