The Agricultural Act of 1954 (P.L. 83-690) is a
United States federal law
The law of the United States comprises many levels of codified and uncodified forms of law, of which the most important is the nation's Constitution, which prescribes the foundation of the federal government of the United States, as well as ...
that, among other provisions, authorized a
Commodity Credit Corporation
The Commodity Credit Corporation (CCC) is a wholly owned United States government corporation that was created in 1933 to "stabilize, support, and protect farm income and prices" (federally chartered by the CCC Charter Act of 1948 (P.L. 80-806) ...
reserve for foreign and domestic relief.
The Act established a flexible price support for basic commodities (excluding tobacco) at 82.5-90% of parity and authorized a Commodity Credit Corporation (CCC) reserve for foreign and domestic relief. Title VII was designated the
National Wool Act of 1954 and provided for a new price support program for wool and mohair to encourage increased domestic production. Price support for wool and mohair continued through
marketing year 1995, at which time it was phased down and terminated under the explicit mandate of P.L. 103-130 (November 1, 1993). Mandatory support for wool and mohair was restored by the 2002 farm bill (P.L. 101-171, Sec. 1201-1205).
CRS Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition - Order Code 97-905
This Act is separate from, and should not be confused with, the Agricultural Trade Development and Assistance Act of 1954.
References
External links
Information about U.S. agricultural laws, from cornell.edu
{{US-fed-statute-stub
1954 in law
1954 in the United States
United States federal agriculture legislation
83rd United States Congress