Now that Congress and President Donald Trump have passed new tax laws allowing corporations to reap greater profits, Gov. John Bel Edwards is calling for Louisiana utility companies to help consumers by lowering rates.
The Democratic governor sent a letter to the Louisiana Public Service Commission asking it to review the federal tax overhaul to see if the corporate income tax reduction could lead to savings for Louisianans.
Federal income tax rates are a consideration in calculating what utilities charge customers. A 14% cut to tax rates businesses pay should force a lowering of the rates Louisiana residents are charged for utilities, Edwards says.
The five-member PSC is studying the issue, says spokesman Colby Cook.
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.
