November 21, 2024 3:56 pm
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OK, utilities, you got your tax breaks, now lower your rates

By Mike Sunnucks | Phoenix Business Journal

An Arizona utilities regulator wants President Donald Trump’s tax cuts to translate into lower electric and utility bills for consumers and businesses.

Justin Olson, a Republican serving on the Arizona Corporation Commission, said Thursday utilities benefiting from Trump and GOP tax cuts should pass some of those saving to their customers.

“This legislation represents the most comprehensive federal tax legislation in over 30 years,” said Olson. “The changes affect every regulated utility that maintains a corporate tax liability as an element of its revenue requirement.”

The GOP and Trump tax cuts cut the corporate income tax rate from 35 percent to 21 percent and trim rates for pass-through business entities.

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