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Utopia Talk / Politics / Massachusetts makes good use of Tax bill
Pillz
Member
Sun Feb 04 00:24:12
Inb4 utilities cry

Massachusetts orders utilities to lower rates after tax cut
By Hector Molina

Published: February 3, 2018, 9:25 pm Updated: February 3, 2018, 10:37 pm

(WWLP) – Eversource said it will pass on more than $50 million in savings from the new tax bill to its 1.4 million customers in the state.

The new tax law is expected to lower your utilities bills.

Massachusetts residents will be paying less for gas and electric service thanks to a corporate tax cut passed by congress.

The Attorney General’s office is expecting the new federal law to result in a 50% percent reduction for customers in western Massachusetts.

Penny Beliveau, a Chicopee resident told 22News she’s looking forward to saving money on heating expenses during the winter, “Anything to put more money in our pockets is not a bad thing that’s for sure. This winter has been a hard winter so anything that could reduce the cost of heating would be best.”

Eversource serves 1.4 million customers in 140 Massachusetts communities.

Emely Chenard, a West Springfield resident who is living on her own for the first time, told 22News playing less for utilities will help with her new expenses, “I actually just moved out on my own for the first time so paying less for electricity and other utilities I think is going to help me out in this transition while getting to know adulthood.”

In a news release Attorney General Maura Healey said the tax bill is being paid for by the people of Massachusetts and that money should go back in their pockets.

The Massachusetts Department of Public Utilities has given utility companies until May 1st to submit plans to reduce rates.
Hot Rod
Revved Up
Sun Feb 04 06:31:55

Good for them.

tumbleweed
the wanderer
Sun Feb 04 10:42:34
if my math is right the average customer would save $3 a month
Dukhat
Member
Sun Feb 04 10:46:17
Republicans are retarded and can't math. We all know that.
Hot Rod
Revved Up
Sun Feb 04 11:19:14

$3 is a gallon of gas or almost a gallon of milk.

Pillz
Member
Sun Feb 04 12:10:37
Massachusetts has a democratic state house & senate
ork
Member
Sun Feb 04 12:21:42
Great to see massive amounts of federal debt piling up to save a few bucks on utilities.
Hot Rod
Revved Up
Sun Feb 04 12:28:48

I thought MA. was in great shape since the people are being charged a little less for their utilities while they still have socialized medicine?


BTW, this should make you guys happy.

I heard nine states are planning a form of Obama care for their citizens.

Some people never learn.

tumbleweed
the wanderer
Sun Feb 04 12:32:52
according to my assessment of this document (which easily could be wrong)
http://www...016-eversource-4q-earnings.pdf

for 2016, it says:

Income Before Income Tax Expense: $1,504,818,000
Income Tax Expense : $554,997,000

so w/ tax rate dropping 35% to 21% it seems their profits could be going up over $200 million
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