The Potomac Electric Power Company announced Tuesday they’ll be slashing electric bills for nearly 300,000 D.C. residents thanks to all the money they’re saving from the GOP tax bill.
“Pepco today announced they will file with the Public Service Commission of the District of Columbia in early February, outlining plans to provide annual tax savings to more than 296,000 electric customers in the District of Columbia. If approved, Pepco would plan to begin providing a credit lowering customer bills starting in the first quarter of 2018.
The tax savings are the result of federal tax reductions under the new Tax Cuts and Jobs Act, which was signed into law on Dec. 22, 2017, and became effective on Jan. 1, 2018. The decrease in the Corporate Tax Rate from 35 percent to 21 percent reduces the amount of federal income tax Pepco will have to pay."
Passed along to the customers...
“The tax law will result in lower bills for our customers and lower taxes for Pepco. We are pleased to provide these savings to our customers, while at the same time ensuring we are making prudent investments in the local power grid to maintain the safe, reliable and affordable service our customers have come to expect.” --PEPCO PRESIDENT DAVE VELASQUEZ PRESS RELEASE
The tax bill 'is the end of the world'...'Armageddon'...'They threw a few crumbs for the middle-class'