Companies passing the money back to its customers in a variety of ways…
(Lionel Parrott, Liberty Headlines) As a result of the tax cuts passed by Congress in December, 101 utility companies across the nation are lowering their rates.
The group Americans for Tax Reform (ATR) lauded the electricity providers’ response to the new tax code in a press release last week.
The GOP Congress passed the law at the end of the year and it was signed by President Donald Trump.
It is considered among his signature achievements in office and perhaps the only significant law enacted by the legislative branch this biennium.
Despite this, Democratic politicians like Minority Leader Nancy Pelosi have criticized the tax cuts as “crumbs” for middle class Americans, and have said that most of its benefits have gone to the wealthy.
Yet the lowered utility rates are yet another piece of evidence that the law is good for all Americans.
The actions of these 101 companies mean “lower electric bills, lower gas bills, and lower water bills” for Americans in every class.
In the press release, ATR provided examples of just a few of the companies that have cut their rates following enactment of the tax reform.
A list was included in the press release.
“Because of recent changes made to the federal tax law, customers will directly benefit,” noted Florida-based Tampa Electric.
And Appalachian Power Company, based in Milton, West Virginia, says they “saved $235 million dollars from the federal tax cuts and the company is proposing passing the money back to its customers in a variety of ways.”
Charles Rice, president and CEO of Entergy New Orleans, said: “We’re working to ensure that our customers receive timely benefits from the new tax reform legislation.”
He noted that the company would be making a special effort to reduce rates during the summer months when energy usage is highest.
The new tax law, and the ways Americans are benefiting from it, could play a key role in the upcoming 2018 midterms.
“When Democrats threaten to raise taxes if they get back into power they are threatening to raise your utility bill – month after month,” said Grover Norquist, president of the organization.
Read the entire press release here.