Fair Milk Pricing for Farmers Act

Key Points

• This bill would require dairy processing plants to report their production costs and how much product they make to the Department of Agriculture. Currently, these plants are not always required to share this specific financial information with the government.
• The government uses these processing costs to calculate the minimum prices that farmers should be paid for their milk. By making this reporting mandatory, the bill aims to make sure the price formulas are based on real-world data rather than old estimates.
• The Department of Agriculture would be required to publish a public report on these costs every two years. This transparency is intended to help dairy farmers get a fairer deal and better understand how the market is pricing their products.
• If passed, the first official report would be released within three years. This would affect thousands of dairy farmers across the country who rely on federal pricing rules to keep their farms running and pay their bills.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.