What is National Industrial Recovery Act (NIRA)?

The National Industrial Recovery Act (NIRA) was a key piece of legislation enacted in 1933 as part of President Franklin D. Roosevelt's New Deal during the Great Depression. It aimed to stimulate economic recovery by promoting industrial growth and fair competition, establishing codes of fair practices for industries, and encouraging collective bargaining for workers. NIRA also included provisions for public works programs to create jobs. However, it was declared unconstitutional by the Supreme Court in 1935, leading to the end of its provisions.