(LAS VEGAS, NV) – Citizen Outreach – a grassroots advocacy organization supporting fair, free-market economic policies – has joined 16 other conservative organizations in submitting a coalition letter urging Congress to oppose The Aluminum Pricing Examination (APEX) Act.
The APEX Act would grant the U.S. Commodity Futures Trading Commission expansive authority over the setting of reference prices in the aluminum market, allowing political pressure potentially to distort the market by manipulating price signals.
The coalition letter reads, in part:
“By granting the government authority to arbitrarily alter market signals, supporters of the APEX Act—such as certain beer manufacturers with a history of working with politicians to distort the free market—are openly seeking to artificially deflate the price of aluminum.
“Such an outrageously crony abuse of government is unethical, and history shows that it will only worsen matters by further distorting the market and creating or exacerbating shortages. Domestic producers, faced with extensive government regulations and thinner profit margins, would find it increasingly difficult to survive and further erode domestic supply, a boon for foreign producers.”
Representatives from the following organizations co-signed the letter with Citizen Outreach: Center for Freedom and Prosperity, Competitive Enterprise Institute, Taxpayers Protection Alliance, Less Government, American Consumer Institute, Tea Party Nation, Campaign for Liberty, Consumer Action for a Strong Economy, National Black Chamber of Commerce, American Encore, Market Institute, Institute for Liberty, Institute for Policy Innovation, Frontiers of Freedom, National Tax Limitation Committee, and 60 Plus Association.