Legislation Repeals Price Control Authority
Oklahoma City – Today Americans for Prosperity – Oklahoma issued the following statement regarding the passage of SB550, The Unfair Sales Act, a bill to repeal state government’s involvement in setting price controls.
“By repealing an archaic 1941 law that mandates a 6% retail markup, this bill emboldens the free market in Oklahoma by getting state government out of the price control business,” said Matt Ball, State Director for AFP-Oklahoma.
“The competition offered by a vibrant free market is good for Oklahoma consumers and businesses of all industries and sizes. While this bill could be stronger, its passage significantly weakens state government’s ability to mandate what Oklahomans pay for products they want to buy and the price at which Oklahoma business owners choose to sell those products. The state government should have no role in price controls and this bill repeals that market intrusion,” said Ball.
“AFP-Oklahoma thanks Rep. Tom Newell and Sen. David Holt for their authorship of SB550 and House and Senate members for standing in support of free market principles.”
SB550 passed the House of Representatives 69-23.