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Ken Buck Re-Introduces Legislation to Ensure Fair Aluminum Pricing

March 1, 2019
Press Release

Washington, D.C. – This week, Congressman Ken Buck (R-CO) and Congressman Al Lawson (D-FL) reintroduced bipartisan legislation (H.R. 1406), to ensure a fair and free market for the pricing of aluminum in the United States. The Aluminum Pricing Examination (APEX) Act grants the Commodities Futures Trading Commission (CFTC) the statutory authority to conduct oversight of the aluminum market and to investigate price setting, benchmarking, and reporting entities. At the same time, the bill enables the Department of Justice (DOJ) to consult with the CFTC to ensure all regulatory and oversight actions align with anti-trust statutes. Congressman Buck introduced this legislation during the 115th Congress and hopes to see it considered on the House Floor during the 116th Congress. 

 

“America’s beverage and beer industries rely on a fair and free market for aluminum purchases. These unfair market practices have had harmful effects on consumers and they’ve cost the beverage and brewing industries millions of dollars. With the help of the CFTC, I hope we can resolve these pricing irregularities so our nation’s beverage companies can continue to produce some of America’s most popular beverages,” stated Congressman Buck.

“The Aluminum Pricing Examination (APEX) Act brings under the CFTC’s jurisdiction the aluminum benchmark market and will guarantee that any potential deceptive practices and bad actors within the aluminum market can be investigated,” stated Congressman Lawson.

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Click here to watch Congressman Buck’s floor remarks on this legislation.