WASHINGTON, D.C. – Congressman Clay Higgins (R-LA) commended Entergy Louisiana’s announcement that they will return millions in tax savings to Louisiana customers after the Louisiana Public Service Commission approved the agreement today.
The first of the reductions will occur in May as a result of $210 million in federal tax reform-related savings, $105 million of which will be returned to customers over the next eight months, with the remaining half of these savings returned to customers over the following four years.
A second reduction on residential bills will occur in September 2018 as a result of additional credits tied to the Tax Cuts & Jobs Act approved by Congress in late 2017. At the same time, Entergy Louisiana will begin realizing approximately $130 million in annual tax savings to offset the cost of upgrading infrastructure.
Congressman Higgins issued the following statement:
“Entergy’s announcement is reflective of the growth and investment that businesses across America are making as a direct result of tax reform. Louisiana continues to win with historic federal tax cuts.”