Middle Class Families Seeing Lower Utility Rates Thanks To Tax Reform
‘The good news about tax reform continues to sweep across the nation. But recently, as special bonuses, wage increases, and expanded employee benefits continue to make headlines, they’ve had to share the front page with a series of late winter storms. This prolonged cold weather can mean high heating costs for working families. Fortunately, tax reform has an answer for that, too. Ratepayers in many states are looking forward to smaller utility bills, thanks to our country’s new tax code.’
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 across the country continue to see from tax reform:
“The good news about tax reform continues to sweep across the nation. But recently, as special bonuses, wage increases, and expanded employee benefits continue to make headlines, they’ve had to share the front page with a series of late winter storms. This prolonged cold weather can mean high heating costs for working families. Fortunately, tax reform has an answer for that, too.
“Ratepayers in many states are looking forward to smaller utility bills, thanks to our country’s new tax code. In my home state, the Public Service Commission announced earlier this week that Kentucky Utilities and Louisville Gas and Electric will be passing along savings to customers -- to the tune of a six-percent decrease in monthly bills. That means real savings for the middle-class families I represent.
“We’ve heard a similar story from our neighbors in Indiana. The Northern Indiana Public Service Company reports that, thanks to tax reform, it will be able to pass $26 million dollars in new savings on to its customers. That’s just one in a long list of ways that tax reform is helping Hoosiers. Pat Williams, who lives in Southern Indiana, recently shared another tax reform success story with my friend Senator Young. Pat’s husband, Jim, works part-time in the U-Haul service center across the river in Louisville. He received a $500 tax reform bonus.
“And over in Converse, Indiana, tax reform enabled First Farmers Bank & Trust to raise its starting wage for hourly workers, guarantee a year-end bonus for all full-time employees, and announce a big investment in employee development and community programs. My friend the junior senator from Indiana knows the folks at First Farmers. In fact, he was so impressed by their proactive response to the new tax code that he invited them to the president’s State of the Union in January.
“There aren’t enough seats in the House gallery for all the American families that tax reform is already helping. Not even close. But if there were, I’d bet the working families and small businesses from Indiana would come with questions. Why did only one of their senators vote for these tax savings? Why did their senior senator vote in lockstep with Democrats to block their tax cuts, bonuses, raises, and benefits? Those would be tough questions to answer. Fortunately, Republicans stayed focused on empowering the American people.”
Related Issues: Tax Reform, Middle Class, Taxes, Economy
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