Americans are Paying Less to Keep the Lights On
‘In my home state of Kentucky, the new tax code led to announced rate cuts of up to 6% for Kentucky Utilities and Louisville Gas and Electric customers... Help with the monthly bills. Higher take-home pay. New job opportunities because American enterprise is thriving. This is what tax reform means around middle-class kitchen tables. This is why Republicans passed this historic law.’
WASHINGTON, D.C. – U.S. Senate Majority Leader Mitch McConnell (R-KY) delivered the following remarks today on the Senate floor regarding the benefits Americans have seen across the country in the past six months thanks to the Tax Cuts and Jobs Act:
“It’s been little over six months since this Republican Congress passed historic tax reform legislation. Already, we’ve seen big headlines. Millions of worker bonuses, plans for thousands of new jobs, and billions of dollars being invested in the United States. Individual companies announcing billions in new American investments. Small business optimism at its highest level since President Reagan’s first term. But these national headlines don’t tell the whole story on their own.
“This week, I’ve discussed how tax reform is already transforming American families’ kitchen-table conversations. How lower rates and larger deductions are letting them pocket more of their hard-earned money. How our new corporate tax structure has already started paving the way for higher wages. If you pick up a local paper in almost any state, you’ll find yet another angle to this story: From Montana to Florida, Americans are paying less to keep the lights on.
“That’s right -- despite warnings from our Democratic colleagues that tax reform savings would never reach consumers, utilities across America are already making that happen.
“In my home state of Kentucky, the new tax code led to announced rate cuts of up to 6% for Kentucky Utilities and Louisville Gas and Electric customers. Just this month, Idaho Power announced a 7 percent rate cut for customers. And in Pennsylvania, Metropolitan Edison is one of seventeen utilities that are planning to deliver rate savings thanks to the new tax law. On July 1st, more than half a million customers in the Philadelphia area can expect their electric bills to drop by as much as 8%.
“Help with the monthly bills. Higher take-home pay. New job opportunities because American enterprise is thriving. This is what tax reform means around middle-class kitchen tables. This is why Republicans passed this historic law.”
Related Issues: Middle Class, Taxes, Economy, Tax Reform
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