Federal Agricultural Improvements and Reform Act
- Federal Agricultural Improvements and Reform Act
The Federal Agricultural Improvements and Reform Act (or Fair Act) is a United States federal law in which supply restrictions and target prices were eliminated. Under this act, farmers could still receive price supports through nonrecourse commodity loans from the Commodity Credit Corporation. The FAIR Act was intended to provide a transition period for farmers to move from government-subsidized farming to free market farming. It founded the National Sheep Improvement Program in 1986. The act was founded in Virginia and expanded to a nation wide organization.
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