Another Utility Announces Lower Rates Because of GOP Tax Cut

Energy and heating giant National Grid announced Thursday it will slash a proposed natural gas rate hike ahead of next winter, citing the the passage of a federal tax bill spearheaded by Republicans and signed into law earlier last month by President Donald Trump.

The announcement states that Massachusetts customers can now expect to pay less next winter than originally projected, thanks to the decision to decrease a proposed rate hike by $36 million — from an $87 million increase to a $51 million increase. That’s a drop of about 41 percent.

The new tax reform cuts the American corporate tax rate from 35 percent — the third-highest in the world, trailing only the United Arab Emirates and Puerto Rico — to 21 percent.

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