Thanks to GOP Tax Cuts, Utilities Are Lowering Rates
Posted by John Kartch, Abigail Marone
Friday, September 7th, 2018, 11:00 AM PERMALINK

At least 120 utilities have lowered electric, gas, or water rates due to the Tax Cuts and Jobs Act

Thanks to the tax cuts passed by the Republican House and Senate and signed by President Donald Trump, at least 120 utilities across the country are lowering rates for customers, according to a report from Americans for Tax Reform. This means lower electric bills, lower gas bills, and lower water bills for Americans.

The Tax Cuts and Jobs Act cut the corporate rate from 35% to 21%. Utility companies are passing on the tax savings in the form of lower rates for customers.

Examples include:

Tampa Electric (Tampa Florida)

Tampa Electric bills won't rise to pay for Hurricane Irma restoration costs, thanks to new tax savings. The Florida Public Service Commission (PSC) unanimously approved the measure today.

Because of recent changes made to the federal tax law, customers will directly benefit. What Tampa Electric would have paid in corporate income taxes will instead be used to the cost of restoring power after Hurricane Irma and several other earlier named. Additionally, Tampa Electric bills will reflect the ongoing benefits from tax reform starting in 2019 -- March 1, 2018, Tampa Electric Press Release

..........................................................

https://www.atr.org/thanks-tax-reform-ut...-lowering-rates


Full list at Web Site