The Pueblo Chieftain: Federal tax cuts to trigger some relief to utility bills
Author: The Pueblo Chieftain Editorial Board - March 13, 2018 - Updated: March 13, 2018
American taxpayers are starting to see lower federal withholding on their paychecks — thus, higher take-home pay — as a result of the tax cuts sponsored by congressional Republicans and signed into law by President Donald Trump.
A welcome spinoff will be modest relief on utility bills to reflect the new tax code’s reduction in the corporate tax rate to 21 percent from 35 percent. In Colorado, Xcel Energy, the state’s largest investor-owned utility, plans to reduce residential natural gas rates by an estimated 87 cents a month and small business utility rates by $3.46 a month. This includes Xcel’s natural gas customers in the Pueblo area.
Likewise, Black Hills Energy, the electric utility for the Pueblo-Canon City area, has proposed lowering monthly light bills by an estimated $2.56, which adds up to $30.72 over a year’s time, as a direct result of the Trump tax cuts. The $2.56 credit is expected to appear on monthly Black Hills bills, starting in May.