PORTLAND, Maine (NEWS CENTER) - So much focus has been on the "fiscal cliff" -- the combination of tax increases and spending cuts set to go into effect Tuesday.
But there is another pressing issue that also affects the economy that Congress also must deal with -- the so-called "dairy cliff."
The U.S. Farm Bill expires at midnight as well. And if Congress doesn't act -- the price of milk will double. That's because a 1949 law would kick in that requires the government to buy milk at grossly inflated prices.
There is optimism tonight, however, that a temporary deal will pass in the coming days -- extending the current farm bill until September 30th until a permanent deal can be reached.
Congresswoman Chellie Pingree, a member of the House Agriculture Committee, actually voted against the Farm Bill when it came up in committee because she does not support the current cuts to food stamp benefits. However, she says she supports a lot of the bill -- and would offer amendments to it, were it to come to the House floor.