Agriculture and Consumer Protection Act of 1973

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Agriculture and Consumer Protection Act of 1973
Great Seal of the United States
Long titleAn 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.
Nicknames
  • 1973 U.S. Farm Bill
  • Agriculture and Consumer Protection Act
Enacted bythe 93rd United States Congress
EffectiveAugust 10, 1973
Citations
Public law93–86
Statutes at Large87 Stat. 221
Legislative history

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 Rural Development Act of 1972 (P.L. 92-419).

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