WASHINGTON— U.S. Senator Bill Cassidy, M.D. (R-LA), a member of the Senate Finance Committee, released the following statement today after Entergy Louisiana announced customers will see their energy rates cut next month and over the next four years by over $200 million thanks to the tax reform legislation Republicans enacted in December.
“This is great news for working families in Louisiana,” said Dr. Cassidy. “Lower energy bills means more money in your pocket, and that’s exactly why we cut taxes. I’m glad the new law is working and more people will benefit from these rate cuts in addition to the bigger paychecks and better benefits we’ve already seen thanks to this law.”
“Nancy Pelosi and Chuck Schumer want to take this money away from families by repealing the tax cuts if they win control of Congress,” added Cassidy. “That’s a really dumb idea, and we can’t let them do it.”
According to the nonpartisan Tax Policy Center, the Republican “Tax Cuts and Jobs Act will cut individual income taxes for about two-thirds of US households in 2018, by an average of about $1,300. … Taxpayers in Alaska, Louisiana, North Dakota, South Dakota, Texas, Washington, and Wyoming will have the largest average increases in after-tax income, each exceeding 2.1 percent.”
Not a single Democrat in Congress supported the bill. Many attended a protest outside the U.S. Capitol yesterday to push for repealing the law.