The Agricultural Adjustment Act (sometimes called "Triple A") was a United States federal law of the New Deal era which restricted agricultural production by paying farmers subsidies not to plant part of their land (that is, to let a portion of their fields lie fallow) and to kill off excess livestock. Its purpose was to reduce crop surplus and therefore effectively raise the value of crops. The money for these subsidies was generated through an exclusive tax on companies which processed farm products. The Act created a new agency, the Agricultural Adjustment Administration, to oversee the distribution of the subsidies. It is considered the first modern U.S. farm bill.
Read more about Agricultural Adjustment Act: Thomas Amendment, History, Ruled Unconstitutional, Hiss Case
Famous quotes containing the words adjustment and/or act:
“You have many choices. You can choose forgiveness over revenge, joy over despair. You can choose action over apathy.... You hold the key to how well you make the emotional adjustment to your divorce and consequently how well your children will adapt.”
—Stephanie Marston (20th century)
“Courage charms us, because it indicates that a man loves an idea better than all things in the world, that he is thinking neither of his bed, nor his dinner, nor his money, but will venture all to put in act the invisible thought of his mind.”
—Ralph Waldo Emerson (1803–1882)