Resumen
On October 22, 2004, President George W. Bush signed the Jobs Creation Act of 2004, legislation that included the Fair and Equitable Tobacco Reform Act which established the Tobacco Transition Payment Program, better known as the tobacco quota buyout. The passage of this controversial legislation, which ended marketing quotas and support prices for tobacco that had been in place since 1938, is expected to fundamentally and permanently change tobacco production in the United States. The purpose of this essay is to provide insights into the establishment and operation of the Tobacco Program and to identify and analyze events leading to its demise.