Parity-based support prices

Commodity-specific support prices (such as loan rates or commodity program purchase prices) whose level in a given year is mandated to be calculated in a way that will maintain the commodity's purchasing power at the level of the 1910-14 base period. Under "permanent legislation" (whose provisions would automatically apply in the absence of current farm bills), the prices of some commodities would be supported at 50-90 percent of parity through direct government purchases or nonrecourse loans.

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