Message
From: Sent: To: Subject:
Christopher Guith [globalenergy@uschamber.com] 8/16/2018 6:21:12 PM Gunasekara, Mandy [Gunasekara.Mandy@epa.gov] New U.S. Chamber Analysis: More Good News about Tax Cuts -- Lower Utility Rates
Tax Cuts are reducing electricity bills
tgas
Dear Mandy:
Impacts from last year's passage of tax reform continues to have pro-growth effects on the U.S. economy and benefits for businesses and families which now include lower electricity rates.
Today, the Global Energy Institute (GEI) released a new economic analysis which found investor owned electricity customers across the United States will save billions as a result of the recently enacted "Tax Cuts and Jobs Act of 2017." Residents and businesses are investing this additional savings in the economy which our analysis projects will create tens of thousands of jcibs and stimulate biiiions more in economic activity.
Investor owned electric utilities set their rates based on their cost of service, a pricing mechanism that allows them to recoup their tax expenses from ratepayers. "The Tax Cuts and Jobs Act" reduced the tax rate that investor-owned utilities pay, which reduced their cost of service. This savings is now being passed along to consumers in the form of lower utility bills.
2024-EPA-05254
Sierra Club FOIA 2024-EPA-05254
ED_017426_00001655-00001
SC_EVERSPLIT0000827
The 12 representative states GEI analyzed were Alabama, Arizona, California, Florida, Georgia, Maine, Michigan, Minnesota, Missouri, Nevada, Texas, and Virginia.
Across the states analyzed, customer savings over the next five years (2018-2022) will range from $100 million in Maine to over $3 billion in California. Each state also sees meaningful GDP and iob gains as a result of these customer savings.
While the savings vary by state, they are substantial and will foster additional economic growth. Passing tax reform was crucial to making the U.S. more competitive and growing our economy.
Sincerely,
Christopher Guith Senior Vice President Global Energy Institute U.S. Chamber of Commerce
SHARE
2024-EPA-05254
Sierra Club FOIA 2024-EPA-05254
ED_017426_00001655-00002
SC_EVERSPLIT0000828
Share this email: vow
nage your preferences Opt out using TrueRemovem Got this as a forward? Sign up to receive our future ernails. View this email online.
1615 H Street, NW Washington, DC f 20062 US
This email was sent to gunasekara.mandy@epa.gov. To continue receiving our emails, add us to your address book.
"U.S. CHAMBER" and "U.S. CHAMBER OF COMMERCE' are registered trademarks of the Chamber of Commerce of the United States of America.
2024-EPA-05254
Sierra Club FOIA 2024-EPA-05254
ED_017426_00001655-00003
SC_EVERSPLIT0000829