Richard Moody is reporting for Columbia-Greene Media Sen. Kirsten Gillibrand announced February 5, that she is introducing legislation, known as the Premium Refund Act, to give dairy farmers who have not received relief from the Dairy Margin Protection Program their money back. She first proposed the legislation last year. “The DMPP is failing to pay out and many dairy farmers have been stuck paying into the program for the past tough two years,” said the New York Democrat. “All that money is just sitting in the treasury right now.” The program is the primary insurance option for dairy farmers when the price of milk falls or feed costs rise. When milk prices and feed prices fall at the same time, as they did last year, farmers often lose money on every pound of milk they sell and few farmers receive an insurance payment. It’s a possibility [that] farms could go bankrupt in the future because of the lack of insurance payouts, Gillibrand said. Read the full story at HudsonValley360 [dot] com.