May. 18, 2018
HARRISBURG - In response to a letter from Republican members of the state House of Representatives, the Pennsylvania Public Utility Commission (PUC) today issued an order, requiring 17 major electric, natural gas and water and wastewater utilities to return $320 million per year to over-charged consumers, Rep. Frank Ryan (R-Lebanon) announced today.
The letter can be viewed under the “
Issue Correspondence” tab on the bottom left side of
RepFrankRyan.com.
The refunds are a direct result of the significant decrease in federal corporate tax rates and other tax changes under the Tax Cuts and Jobs Act signed into law last year, which lowered the tax liability of many utility companies.
In March, Ryan joined 14 representatives in issuing a letter to the PUC urging its commissioners to decrease energy costs for consumers because of the tax cuts.
“I am encouraged by the PUC’s response to our letter and the fact that utilities will now be required to pass President Trump’s federal tax cuts on to consumers,” Ryan said. “But this is only one win. Many states are seeing leaps in economic growth and declines in unemployment due to the
Tax Cuts and Jobs Act that passed with without a single Democrat vote and was signed into law by President Trump on Dec. 22. But, Gov. Tom Wolf’s administration has not made the adjustments necessary for Pennsylvanians to garner maximum benefit from the new law.”
For example, a March 2018 survey of business executives by Ernst & Young, looking at how companies plan on using their tax savings found that:
- 75 percent expect to expand manufacturing in the United States.
- 89 percent plan to increase worker compensation.
- 66 percent will likely pass on some of their tax savings to customers.
- 69 percent expect to bring back more earnings to the U.S. from overseas than they would have otherwise.
That is why Ryan has also authored
House Bill 2017, which would reverse specific outdated Pennsylvania policies and allow Pennsylvania businesses the opportunity to take maximum advantage of the new tax law and truly ignite economic growth here as other states are already enjoying.
“The new tax law has already begun to stimulate economic growth and development in many other states,” Ryan said. “If we act now we can maximize its positive effects for employment and wage increases for Pennsylvania.”
Representative Frank Ryan
101st Legislative District
Pennsylvania House of Representatives
Media Contact: Charles Lardner
717.260.6443
clardner@pahousegop.com
RepFrankRyan.com /
Facebook.com/RepFrankRyan