Agricultural Act of 1954
|Long title||An Act to provide for greater stability in agriculture; to augment the marketing and disposal of agricultural products; and for other purposes.|
|Nicknames||National Wool Act of 1954|
|Enacted by||the 83rd United States Congress|
|Effective||August 28, 1954|
|Statutes at Large||68 Stat. 897|
|Titles amended||7 U.S.C.: Agriculture|
|U.S.C. sections amended||Chapter 35a § 1421|
Chapter 44 § 1781
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).
This Act is separate from, and should not be confused with, the Agricultural Trade Development and Assistance Act of 1954.
- Peters,Gerhard; Woolley, John T. "Dwight D. Eisenhower: "Statement by the President Upon Signing the Agricultural Act of 1954" August 28, 1954". The American Presidency Project. University of California - Santa Barbara. Retrieved June 25, 2013.
- CRS Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition - Order Code 97-905 Archived 2011-02-12 at the Wayback Machine