This week, U.S. Rep. Al Lawson, D-Fla., reintroduced the “Aluminum Pricing Examination (APEX) Act” which will “ensure a free and fair market for the pricing of aluminum in the United States.”
U.S. Rep. Ken Buck, R-Col., is co-sponsoring the proposal which “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” and “enables the Department of Justice to consult with the CFTC to ensure all regulatory and oversight actions align with antitrust statutes.”
Lawson introduced the bill on Tuesday and weighed in on it on Thursday.
“I have spoken to brewers across North Florida, and the APEX Act will provide a lifeline to so many of them,” Lawson said. “By bringing it under the CFTC’s jurisdiction, it will guarantee that any potential deceptive practices and bad actors within the aluminum market can be investigated. This legislation will help to sustain jobs in the manufacturing industry and grow our local economy.”
“Colorado’s Fourth District is home to more than 50 breweries that employ thousands of Coloradans. These breweries and other beverages companies are currently experiencing unfair market prices for aluminum prices,” Buck said. “The APEX Act will ensure brewers and beverage companies across the United States have access to a fair and free market for aluminum purchases.”
Lawson’s office offered some of the reasons for the proposal.
“Aluminum used in cans is the single most substantial cost in American beverage and beer manufacturing. The American economy has faced significant job losses and economic uncertainty due to the COVID-19 pandemic, and in 2020 alone, more than 568,000 jobs were lost in the beer industry. Almost one-third of all non-alcoholic beverages come in aluminum cans, and more than 74 percent of all beer produced and sold in the United States is packaged in aluminum cans and aluminum bottles,” Lawson’s office noted.
The Beer Institute, American Beverage, National Marine Manufacturers and the Flexible Packaging Association are all backing the bill.
Lawson’s bill was sent to the U.S. House Agriculture Committee this week. So far, there is no companion measure over in the U.S. Senate.
Reach Kevin Derby at email@example.com.