Bill could provide new type of farm savings accounts
FRESNO, Calif. (KFSN) -- A new senate bill is expected to give dairy producers the ability to invest in farm savings accounts.
The accounts would be similar to a 401K account, and would give producers a new tool to manage increased demand while providing a safety next for volatile market downturns.
The dairy industry has been struggling to recover from the 2009 crash in milk prices which affected many dairy producers -- especially those with a large overhead cost.
The bill was introduced last week and has now been referred to the Senate Finance Committee.
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