Arizona Corporation Commissioner Justin Olson believes Arizona ratepayers should benefit from federal tax reform. For Olson, that means Arizona utility companies should pass their tax savings on to Arizona ratepayers.
Recent federal tax reform has resulted in big savings to corporations here in Arizona. In fact, that reform lowered the corporate tax rate from 35 to 21 percent leading to significantly lower expenses to utility companies. Olson, who serves on the Arizona Corporation Commission and oversees utility rates, wants to make sure those savings get passed on to you.
APS, Arizona’s largest utility provider, is already moving to lower customer bills by $119 million a year. Overall, that means an average saving to ratepayers of $4.68 per month. That’s a good start but it also means Arizona’s other utility companies must do the same. To make that happen, Commissioner Olson has asked that the full commission review and adjust rates downward for Arizona ratepayers.
Other commissioners are in agreement with Olson and taken steps to have other utility companies pass their tax savings on to you.
On Wednesday, January 31st, Commissioner Olson conducted a workshop to discuss the impact of federal tax reform on Arizona utility rates. A link to that workshop video and agenda can be found here. The video of the workshop is below.
Olson who has been an advocate for taxpayers for many years is leading by example. Arizona was the first to call for utility rate reductions and now other state commissions are following. It’s refreshing to watch conservative leadership remember who ultimately foots the bill and deserves to reap the benefits of tax reductions.
Thank you, Justin Olson, for your leadership and looking ahead for ratepayers.