Hill: ‘Tax Cuts Continue to Benefit Arkansas Families’
Washington,
February 28, 2018
Congressman French Hill (AR-02) made the following statement after Entergy Arkansas, Inc. committed to lower utility rates. Entergy Arkansas, Inc. stated that there will be approximately $466 million dollars in benefits for hardworking individuals and families in Arkansas as a result of Congress passing tax reform: “I want to thank Entergy Arkansas for their commitment to lower the utility rates for hardworking Arkansans as a direct result of the House’s tax reform that passed in December. This is yet another positive result of the tax reform.” Background In January, the Arkansas Public Service Commission (APSC) issued an order directing investor-owned utilities to record for accounting purposes a regulatory liability consisting of the estimated tax benefit from January 1 forward. In response, Entergy Arkansas Inc. filed a plan Tuesday to pass along $466 million in benefits to their customers because of the federal tax cut Congress approved last year. The company said that if approved by the APSC, the plan could result in an estimated $20 in savings per month for every 1000 kWh consumed from April to December 2019 by residential customers. In December, Congress passed and President Donald Trump signed into law the Tax Cuts and Jobs Act. Energy providers will benefit from the corporate tax cut included in that legislation, according to a news release. |
