Johanns: One year extension likely if Farm Bill does not pass
U.S. Sen. Mike Johanns says failure to reach an agreement of a farm bill could have the USDA revert to the 1949 farm bill, which included commodity pricing "parity," but he says it's more likely there would be an extension of the current farm legislation before something like that would happen.
Johanns says if "fiscal cliff' negotiators want to find billions in savings, they don't have to look much farther than the farm bill, which would provide $23-3- billion in real savings.
Johanns says the chance of a farm bill moving through the House of Representatives probably hinges on resolving the impasse over the "fiscal cliff." He says he feels progress is being made, but there's a ways to go.
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