Arkansas utilities told to submit plans following tax cut [View all]
LITTLE ROCK—The Arkansas commission regulating utility rates has ordered the state's eight investor-owned utilities to explain how they plan to pass tax savings on to their customers.
The Arkansas Public Service Commission told the utilities Thursday that they have 30 days to file their plans, the Arkansas Democrat-Gazette reported .
Lawmakers in December passed the federal Tax Cuts and Jobs Act, which reduces the corporate tax rate from 35 percent to 21 percent.
Gov. Asa Hutchinson asked the commission in January to pass on benefits of the federal corporate tax rate cut to Arkansas ratepayers "as expeditiously as possible."
Read more: http://www.texarkanagazette.com/news/arkansas/story/2018/jul/28/arkansas-utilities-told-submit-plans-following-tax-cut/736379/
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