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A new report finds that electric, gas, and water rates have fallen across the country due to the tax cuts put in place by President Donald Trump and the GOP.
The review of 102 utilities across the nation by Americans for Tax Reform (ATR) finds that Trump’s tax cuts mean “lower utility bills for Americans.”
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“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,” ATR wrote on June 7.
ATR went on to detail the rate reductions in states such as Florida, Ohio, Michigan, West Virginia, thirty-seven other states, and the District of Columbia.
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For instance, the low-tax advocacy group found that Tampa Electric in Tampa, Florida, announced the company would not raise rates to pay for its work to restore facilities due to the destruction Hurricane Irma caused because the tax cuts helped make up the difference.
“Because of recent changes made to the federal tax law, customers will directly benefit,” Tampa Electric told customers. “What Tampa Electric would have paid in corporate...
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Democrate or Republican, the difference is less than the thickness of a cigarette paper, or a slice of pastrami at a delicatesean.