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United States federal law
Agriculture and Consumer Protection Act of 1973
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Long title
| An original bill to extend and amend the Agricultural Act of 1970 for the purpose of assuring consumers of plentiful supplies of food and fiber at reasonable prices.
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Nicknames
| - 1973 U.S. Farm Bill
- Agriculture and Consumer Protection Act
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Enacted by
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93rd United States Congress
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Effective
| August 10, 1973
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Public law
| 93?86
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Statutes at Large
| 87
Stat.
221
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The
Agriculture and Consumer Protection Act of 1973
(P.L. 93-86, also known as the
1973 U.S. Farm Bill
) was the 4-year
farm bill
that adopted
target prices
and
deficiency payments
as a tool that would support
farm income
but reduce
forfeitures
to the
Commodity Credit Corporation
(CCC) of surplus stocks. (Target prices were eliminated by the
1996 farm bill
(P.L. 104-127), but restored by the
2002 farm bill
(P.L. 101-171, Sec. 1104).) It reduced payment limitations to $20,000 (from $55,000 set in 1970) for all
program crops
. The Act might be considered the first
omnibus
farm bill because it went beyond simply authorizing farm
commodity programs
. It authorized
disaster payments
and disaster reserve
inventories
; created the Rural Environmental Conservation Program; amended the
Food Stamp Act of 1964
(P.L. 88-525), authorized the use of commodities for feeding low income mothers and young children (the origin of the
Commodity Supplemental Food Program
; and amended the
Consolidated Farm and Rural Development Act of 1972
(P.L. 92-419).
References
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