AGEC 110 Final

By kmeyer20

  • Agricultural Adjustment Act of 1933

    Agricultural Adjustment Act of 1933
    Signed into law by President Roosevelt on May 12, 1933, this was the first direct US Government involvement in the agriculture market. The Agricultural Adjustment Administration was created to implement the provisions of the bill. This Act limited production output by paying farmers not to plant some of their acreage or to destroy crops. Some parts of the Act were ruled unconstitutional in 1936, which resulted in the passage of a modified version of the bill in 1938.

  • Agricultural Act of 1954

    Agricultural Act of 1954
    Signed into law by President Eisenhower on August 28, 1954, this Act created a Commodity Credit Corporation reserve for both foreign and domestic relief. The Act also created flexible price support for most basic commodities. Title VII of this Act was called the National Wool Act of 1954 and created price supports for wool and mohair which remained in effect until 1995.

  • Agriculture and Food Act of 1981

    Agriculture and Food Act of 1981
    This Act was signed into law by President Reagan on December 22, 1981. This Act set the target prices for it's four year term and eliminated allotments and marketing quotas for rice. The Act also lowered dairy supports, which were subsequently frozen by later amendments for the 1983 and 1984 crops. These amendments also funded land diversion payments for certain crops.

  • Federal Agriculture Improvement and Reform Act of 1996 (FAIR Act)

    Federal Agriculture Improvement and Reform Act of 1996 (FAIR Act)
    Signed into law by President Clinton on April 4, 1996, this Act eliminated milk price supports via direct government purchases. Dairy support was intended to be discontinued after four years, but was instead continued by later Acts. The Act also eliminated acreage reduction programs and modified non-recourse loan programs.

  • Agricultural Improvement Act of 2018

    Agricultural Improvement Act of 2018
    The Act was signed into law by President Trump December 12, 2018 and primarily reauthorized existing programs, as well as raising funding for some programs. This Bill also de-scheduled some Marijuana products, which resulted in legal hemp and CBD production. As a result, this also created the USDA hemp regulatory system.