House Minority Leader Nancy Pelosi’s predictions of “doom and gloom” continued to crash and burn this week, with utility companies around the country lowering their rates just months after the recently passed GOP tax cuts.
According to Americans for Tax Reform, the Republican-sponsored cuts have led to over 100 utility companies across the United States lowering costs and cutting bills; putting more money in the pockets of hard-working 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,” writes the ATR.
One example is Tampa Electric in Tampa, Florida, who are slashing rates due to “recent changes made to the federal tax law.”
“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 Hurricanes. Additionally, Tampa Electric bills will reflect the ongoing benefits from tax reform starting in 2019,” adds the company.
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