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:
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—Carrie Chapman Catt (1859–1947)
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