MISSISSIPPI (WLOX) - President Trump's new tax law could mean lower utility bills for Mississippians. The Mississippi Public Service Commission has asked the public utilities staff investigate possible rate reductions for customers now that utility companies will have lower federal tax bills thanks to the Tax Cuts and Jobs Act.
In President Trump's new tax law, the utilities' tax rate was reduced from 35% to 21%.
"Mississippi utility customers deserve to see their power and gas bills reduced when utilities' costs are reduced," said PSC Chairman Brandon Presley in a statement. "These dollars rightfully belong in the hands of Mississippi's working families and businesses."
"Simply put, this tax reduction means a rate reduction for ratepayers," Southern District Commissioner Sam Britton said in a statement. "And keeping more money in the pockets of Mississippians is a good thing."
The Public Service Commission regulates telecommunications, electric, gas, water and sewer utilities. The agency is charged with assuring that rates and charges for services are just and reasonable, that the service rendered is reasonably adequate, and that any facilities constructed or acquired are required for the convenience and necessity of the public.