Impact of Tax Cuts and Jobs Act of 2017 on Electric Utility Rates
August 15, 2018
On December 22, 2017, President Trump signed into law the Tax Cuts and Jobs Act of 2017 that amended the International Revenue Code of 1986. This represents the first major tax reform in more than three decades, lowering rates for all businesses, making our tax system more competitive, and unleashing a new era of growth for the American economy. Because of these changes, companies are reinvesting in their business, employees are reaping rewards through bonuses and increased wages, and individuals are keeping more of their hard-earned wages in their paychecks each month. Another area of significant consumer savings and economic gain is coming in the form of reduced electricity bills made possible by these tax cuts.