Agricultural Adjustment Act (AAA) Of 1933

Business / Agriculture / Agricultural Adjustment Act (AAA) Of 1933: P.L. 73-10 (May 12, 1933) was the New Deal initiative to assist the farm sector during the Great Depression. This was the first comprehensive effort to raise and stabilize farm prices and income. The law created and authorized the Agricultural Adjustment Administration to (1) enter into voluntary agreements to pay farmers to reduce production of designated 'basic' commodities (cotton, wheat, corn, rice, tobacco, hogs, and milk), (2) to make advance payments to farmers who stored crops on the farm, (3) to create marketing agreements between farmers and middlemen, and (4) to levy processing taxes to pay for production adjustment and market development. The Commodity Credit Corporation (CCC) was incorporated under the laws of the state of Delaware on October 17, 1933, to carry out financial activities, including making nonrecourse loans on the basic crops. Support for other commodities was authorized upon recommendation by the Secretary with the President’s approval. Commodity loan programs carried out by the CCC for 1933-37 included cotton, corn, rosin, turpentine, tobacco, peanuts, dates, figs, and prunes. The provisions for production control and processing taxes in the Act were later declared unconstitutional in the Hoosac Mills decision of 1936. Congress responded by adopting the Soil Conservation and Domestic Allotment Act of 1936, the Agricultural Marketing Act of 1937, and the Agricultural Adjustment Act of 1938, all of which remain as permanent law.

Other Words for Act

Act Noun Synonyms: deed, action, undertaking, operation, step, move, feat, exploit, accomplishment, achievement
Act Verb Synonyms: behave (oneself), carry on, deport oneself, comport oneself, conduct oneself

Other Words for Adjustment

Adjustment Noun Synonyms: adjusting, altering, alteration, setting, regulating, regulation, setting or putting right or aright or to rights, correcting, correction, calibrating, calibration, tuning

Out-Of-Plan (Out-Of-Network)

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Out-Of-Network Provider

Health / Dentistry / Out-Of-Network Provider: Any health care provider that does not belong to a CIGNA network. Members can use their benefits for out-of-network expenses, but miss out on in-network discounts. MORE