Rutledge Urges Utility Companies to Pass Savings to Ratepayers
May 3, 2018
Says, ‘It is time for the companies to pass savings on to Arkansas consumers’
LITTLE ROCK – Arkansas Attorney General Leslie Rutledge today filed comments with the Arkansas Public Service Commission encouraging utility companies to pass along their savings from President Donald J. Trump’s corporate tax rate reduction to their consumers. Some utilities are over collecting money from consumers by using rates set to recover taxes at the previous, higher rate – a move that wrongly takes hard-earned money away from Arkansas consumers.
“President Trump’s tax rate reduction was intended to put more money back into the pockets of Americans, but some utility companies are keeping the profits and benefits of the tax cuts for themselves,” said Attorney General Rutledge. “This behavior goes against the very spirit of the historic tax bill and cannot continue. It is time for the companies to pass savings on to Arkansas consumers.”
A portion of the money collected from ratepayers for utility company taxes is no longer needed because of the corporate tax rate reduction. While some companies have begun passing the savings onto their ratepayers, today’s comments include recommendations to the Public Service Commission about how all utilities could provide consumers with timely benefits and reduced rates as quickly as possible.