Tax Cuts and Jobs Act Passed in Congress Benefit Electric Utilities
The president of Edison Electric Institute (EEI), Tom Kuhn, the Tax Cuts and Jobs Act “is a win for America’s electricity customers and for investment in critical energy infrastructure.”
“This legislation will grow our economy and encourage much-needed investment in our nation’s infrastructure,” Kuhn said.
According to an article in the Daily Energy Insider, EEI is pleased with the changes in the final conference agreement, which had included provisions the group says are important to its member companies and its customers. One such item is the decreased corporate tax rate. The tax bill would allow companies deduct 100 percent of capital project costs from taxes year one, rather than smaller amounts over time, therefore freeing up investment funds.
Learn more by reading the complete article at Daily Energy Insider.