New Deal Part 2

TVA- Tennessee Valley Authority- 1933-

Worked to provide navigation, flood control from the Tennessee, Cumberland and Savannah Rivers, electricity generation (hydroelectric power) Mississippi, Northern Alabama, Arkansas, Tennessee, South Kentucky, Virginia, Northern Georgia. The main goal was to get people electricity; spent $1-2 billion over 25 years

SEC- Securities and Exchange Commission (1934)-

maintained/regulated a fair, orderly and efficient stock market; aimed to prevent fraud and assure that investors receive updated financial information concerning the securities they want to invest in.

NYA- National Youth Administration- 1935

money for education programs for both men and women ages 16-25; helped American youth find jobs; spent over $660 million dollars; laid 10-25$ per month

USHA- United States Housing Authority- 1937-

provided money to states for construction projects; $500 million dollars was spent to provide affordable housing to people in need.

Glass-Steagall Act-

separated commercial banks from private banks; establish rules and standards for banking; created the FDIC

Fair Labor Standards Act- 1938-

Outlawed child labor, established a 40 hour work week and created a minimum wage.

Social Security Act of 1935-

provided unemployment insurance, aid to the disabled, aid to the poor and old age insurance

Homeowner Loan Corps-

Aimed to prevent foreclosures by assisting with refinancing and expanding buying opportunities; 1 million loans were bought out, spending 3 billion

National Labor Relations Act-

1935 Allowed people to unionize; union representative gave the workers a voice

Rural Electrification Act (1936)-

Federal loans for the installation of electricity in rural/farming area; over $400 million