Utilities cutting rates, cite benefits of Trump tax reform

Utilities cutting rates, cite benefits of Trump tax reform:
"On the heels of companies dishing bonuses of up to $3,000 to over one million workers due to the anticipated benefit of President Trump’s tax reform victory, several major utilities have announced plans to cut rates in a consumer payback related to the lower taxes.
...The taxpayer advocate group Americans for Tax Reform is pulling together the list of utilities expected to apply for a rate cut as it has for more than 100 major firms planning to pay out bonuses, higher wages and increased benefits due to the expected windfall they plan to receive when corporate taxes are cut.
In one announcement typical of those from the utilities sharing their tax benefits, Pacific Power said, “The benefit of this tax cut should be passed on to our customers – and we will work with our regulators and stakeholders on the best way to do that.”
...The Tax Cuts and Jobs Act (TCJA), which was signed into law on Dec. 22, 2017 and became effective on Jan. 1, 2018, decreased the corporate tax rate from 35 percent to 21 percent, reducing the amount of federal income tax ComEd will have to pay. – Jan. 5 Commonwealth Edison Company press release..."
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