State Residents Looking at $147 Mil in Energy Savings Thanks to Trump Tax Cut

Because of the tax reform bill President Donald Trump signed into law last year over Democrat opposition, Iowa residents may soon see a reduction in their heating and cooling bills.

By lowering the corporate tax rate from 35 percent to 21 percent, the new tax law is saving businesses of all stripes millions of dollars, and according to the The Des Moines Register, utility companies in Iowa intend to share their savings with their customers by either lowering rates or providing a “tax rider.”

MidAmerican Energy is expected to share savings of between $90.8 million and $112.3 million with customers, while Interstate Power & Light is looking to share savings of between $18.6 million and $19.6 million.

“Alliant’s gas customers could have between $500,000 and $3.7 million returned to them,” the Register’s report continued. “Black Hills Energy would return $1.6 million to its gas customers, the only service it provides in Iowa. And Iowa-American Water Co., which provides service in eastern Iowa, would provide $1.5 million and $1.8 million to customers.”

Combined, this reportedly comes out to a potential $147 million in savings. And all because the president signed a tax reform bill that both liberal Democrats and their allies in the media claimed would rob the working class to benefit the wealthy.

If this is what it means to be robbed, then someone please rob me!

Jokes aside, Iowans are not the only utility consumers slated to benefit “bigly” from the tax bill. Not by a long shot.

Last month CNS News reported that power companies in California, Delaware, Idaho, Illinois, Maryland, Oregon, Utah, Wyoming, and even....Read More HERE