TeachMeFinance.com - explain Agricultural Act of 1949
Agricultural Act of 1949 The term 'Agricultural Act of 1949 ' as it applies to the area of agriculture can be defined as ' P.L. 89-439 (October 31, 1949), along with the Agricultural Adjustment Act of 1938, makes up the major part of the permanent law that mandates commodity price and farm income support. The original 1949 Act designated mandatory support for basic commodities and the following nonbasic commodities: wool and mohair, tung nuts, honey, Irish potatoes (excluded in the Agricultural Act of 1954), and milk, butterfat, and their products. Periodic farm bills (most recently the FAIR Act of 1996) make temporary changes in the levels and design of commodity programs'.
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