OKLAHOMA CITY- Oklahoman's could soon be getting a break on their utility bills thanks to the newly passed federal tax plan, as the corporate tax rate goes from 35 to 21 percent.
"What if the federal tax that they are collecting from the rate payers goes down and they have to give a smaller amount to the IRS.. who’s going to keep the full amount ? The answer is this should be a benefit to the rate payers"
Bob Anthony of the Corporation Commission has teamed up with the Attorney General's office to file a motion to change utility rates in order to pass the savings to the consumers.
"This benefits low-income rate payers, middle-income rate payers, almost everybody pays utility bills and the bills are an important part of the family budget."
This has been on Anthony's radar for months. Bob dealt with a similar situation with the tax reform in 1986.
"The difference is that act gave six months advanced notice before the effective date. With this legislation, we now have 4 or 5 days left before the effective date."
The tax change is estimated to give back $100 million to customers of OG&E, ONG and Public Services Company of Oklahoma.
ONG released a statement
"We are looking forward to working with the Attorneys General office and the Corporation Commission as we move through this process."
OG&E says"....OG&E will address the effects of the tax plan, along with many other cost components, during its pending rate review at the OCC."
Anthony says the rate changes needs to happen fast and the earliest it could happen is probably February.