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Preferred Term:

Agricultural Adjustment Act of 1933

Definition:
Signed May 12, 1933, this law introduced the price support programs, including production adjustments, and the incorporation of the Commodity Credit Corporation (CCC), under the laws of the State of Delaware on October 17, 1933. The program benefits were financed mostly by processing taxes on the specific commodity. The Act also made price support loans by the CCC mandatory for the designated "basic" (storable) commodities: corn, wheat, and cotton. Support for other commodities was authorized upon the recommendation by the Secretary of Agriculture with the President's approval.
Concept Schemes:
NALT Full
Broader Concept:
URI:
https://lod.nal.usda.gov/nalt/5277
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RDF/XMLCreated 2006-01-19, last modified 2015-11-25