April 01, 2013

Feast and Famine: The Rise and Fall of Direct Farm Payments

Pamela Netterville Grady and Trey Tucker

Historically Speaking

Public support for agriculture in the United States dates back to the Morrill Act of 1862. The Agricultural Adjustment Act of 1938 was the first piece of federal legislation to make price supports mandatory for corn, wheat, and cotton. The price supports were designed to maintain a supply to steady periods of low production.

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