Chairman Craddick Directs RRC to Ensure Federal Tax Cuts Benefit Gas Customers - Orders Review of Tax Cut Impacts on Gas Utility Rates
AUSTIN – Railroad Commission Chairman Christi Craddick today directed RRC staff to assess the impact of the Tax Cuts and Jobs Act of 2017 on Texas gas utility rates to ensure companies pass on to customers the savings resulting from the corporate tax reduction. The Act reduced the corporate tax rate from 35 percent to 21 percent as of January 1, 2018.
“These tax cuts are significant, and as a regulator, our role is to make sure Texas utilities implement them in a way that benefits consumers first,” Craddick said. “Considering President Trump’s tax reform plan and the reduced corporate tax rate, we will look at the effect on gas rates to guarantee companies share their savings with their customers, allowing Texans to keep more of their paycheck as the Act intended.”
Christi Craddick was elected statewide by the people of Texas in November 2012 to serve a six-year term as Texas Railroad Commissioner. A native of Midland, Christi is an attorney specializing in oil and gas, water, tax issues, electric deregulation and environmental policy.