Agriculture and Consumer Protection Act of 1973
The Agriculture and Consumer Protection Act of 1973 was the 4-year farm bill that adopted target prices and deficiency payments as a tool that would support farm income but reduce forfeitures to the Commodity Credit Corporation of surplus stocks., but restored by the 2002 farm bill It reduced payment limitations to $20,000 for all program crops. The Act might be considered the first omnibus farm bill because it went beyond simply authorizing farm commodity programs. It authorized disaster payments and disaster reserve inventories; created the Rural Environmental Conservation Program; amended the Food Stamp Act of 1964, authorized the use of commodities for feeding low income mothers and young children.
