Louisiana utility rates should drop due to corporate tax cuts
Gov. John Bel Edwards wants the recent congressional tax overhaul to drive down utility rates for Louisiana consumers
BATON ROUGE, La. (AP) — Gov. John Bel Edwards wants the recent congressional tax overhaul to drive down utility rates for Louisiana consumers.
The Democratic governor sent a letter to the Louisiana Public Service Commission, the state's utility regulators, citing the new cut to federal corporate income tax rates.
Federal income tax rates are a consideration in calculating what utilities charge customers. Edwards says a 14 percent cut to tax rates businesses pay should force a lowering of the rates Louisiana residents are charged for utilities.
Commission spokesman Colby Cook said Thursday that the five-member elected commission already is looking at the issue.
At the board's December meeting, Cook says, Commission Chairman Eric Skrmetta directed utility companies to report back in February about possible savings for ratepayers tied to the new federal tax laws.