To terminate marketing orders regulating the price of milk at the end of 1995 and to provide for the gradual reduction and eventual elimination of the price support program for milk.

Amends the Agricultural Act of 1949 to extend (and reduce on a sliding scale) milk price supports through 1999. Terminates the milk price support program after December 31, 1999.

Amends the Agricultural Adjustment Act, reenacted with amendments by the Agricultural Marketing Agreement Act of 1937, to terminate milk marketing orders.