P.L. 83-690 (August 28, 1954) established a flexible price support for basic commodities (excluding tobacco) at 82.5-90% of parity and authorized a Commodity Credit Corporation reserve for foreign and domestic relief. Title VII was designated the National Wool Act of 1954 and provided for a new price support program for wool and mohair to encourage increased domestic production. Price support for wool and mohair continued through marketing year 1995, at which time it was phased down and terminated under the explicit mandate of P.L. 103-130 (November 1, 1993).
Sponsor: Stowaway Cosmetics