Fair and Equitable Tobacco Reform Act
Encyclopedia
The Fair and Equitable Tobacco Reform Act is a component of the American Jobs Creation Act
, passed in the United States in October 2004. The main component of the Fair and Equitable Tobacco Reform Act is the Tobacco Transition Payment Program (TTPP, otherwise known as the "Tobacco Buyout"), which was formalized by the United States Department of Agriculture
in February 2005.
in 1938. Beginning with the 2005, there were no planting restrictions, no marketing cards, and no price support loans, all traditional components of tobacco agriculture in the United States. Along with the end of these policies, the Tobacco Buyout also entails the TTPP, which provides payments to tobacco quota holders and tobacco producers from 2005 to 2014.
American Jobs Creation Act of 2004
The American Jobs Creation Act of 2004 was a federal tax act composed of numerous tax credits for agricultural and business institutions. Included was the repeal of some excise taxes on fuel and alcohol, and the creation of tax credits for biofuels...
, passed in the United States in October 2004. The main component of the Fair and Equitable Tobacco Reform Act is the Tobacco Transition Payment Program (TTPP, otherwise known as the "Tobacco Buyout"), which was formalized by the United States Department of Agriculture
United States Department of Agriculture
The United States Department of Agriculture is the United States federal executive department responsible for developing and executing U.S. federal government policy on farming, agriculture, and food...
in February 2005.
Tobacco Transition Payment Program
The Tobacco Buyout ended all aspects of the federal tobacco marketing quota and price support loan programs that were established by the Agricultural Adjustment ActAgricultural Adjustment Act
The Agricultural Adjustment Act was a United States federal law of the New Deal era which restricted agricultural production by paying farmers subsidies not to plant part of their land and to kill off excess livestock...
in 1938. Beginning with the 2005, there were no planting restrictions, no marketing cards, and no price support loans, all traditional components of tobacco agriculture in the United States. Along with the end of these policies, the Tobacco Buyout also entails the TTPP, which provides payments to tobacco quota holders and tobacco producers from 2005 to 2014.