Utility rates under new scrutiny after US corporate tax cuts - NewsOn6.com - Tulsa, OK - News, Weather, Video and Sports - KOTV.com |

Utility rates under new scrutiny after US corporate tax cuts

Posted: Updated:

Associated Press

OKLAHOMA CITY (AP) - Public utility regulators from Oklahoma to Massachusetts are considering lowering the rates consumers pay for electricity and natural gas after a federal tax overhaul reduced the corporate income tax rate by 14 percent.

The law that went into effect Jan. 1 lowers the highest corporate income tax rate from 35 percent to 21 percent. Now, regulators and consumer groups including AARP are demanding that the rates consumers pay be rolled back to prevent utilities from receiving windfall profits.

Utilities are allowed to incorporate federal income tax obligations into the rates they charge customers. Bob Anthony, a member of the Oklahoma Corporation Commission, which regulates utilities in the state, says it's not fair to over-collect federal taxes from consumers.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly
News On 6
303 N. Boston Ave.
Tulsa, OK 74103
Newson6.com is proud to provide Oklahomans with timely and relevant news and information, sharing the stories, pictures and loves of Oklahomans across our great state.
All content © Copyright 2000 - 2018 KOTV. Oklahoma Traveler™ is a registered trademark of Griffin Communications. All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.