Governor Requests Public Service Commission Pass Benefits Of Corporate Tax Cuts To Arkansas Families
Posted January 11, 2018 4:08 p.m. EST
LITTLE ROCK, AR — Governor Asa Hutchinson requested Thursday (Jan. 11) that the Arkansas Public Service Commission should pass the benefits of the corporate tax cut to Arkansas ratepayers as "expeditiously as possible."
In December, Congress passed and President Trump signed into law the Tax Cuts and Jobs acts of 2017.
"The purpose of this letter is to request that the Arkansas Public Service Commission, as expeditiously as possible, take whatever steps are necessary to pass the benefit of the corporate tax cut to Arkansas families and businesses in the form of lower utility rates," Governor Hutchinson wrote.
"Investor-owned utilities have a monopoly, regulated by the Public Service Commission, on providing electricity and natural gas services to Arkansas's families and businesses. Arkansas law allows utility providers to charge rates that recover the cost of providing utility service plus a rate of return on investment. Federal income taxes paid by the utility are one such cost."