President Donald Trump’s tax cuts are working – in more ways than one.
Just take a look at the energy industry.
Because of the Tax Cuts and Jobs Act, more than 100 electric, gas, and water utility providers have slashed their rates, rewarding customers with cheaper energy. All in all, recent utility rate reductions amount to $3 billion.
That’s $3 billion in energy savings for Main Street America.
Having a level playing field for all forms of energy, and employing an ‘all of the above’ strategy, lowers the price you pay for energy. And financially healthy energy companies are better able to fulfill their environmental obligations, leading to a cleaner environment.
As a leader within the energy sector, I can tell you that President Trump’s pro-business policies are making a real difference. Many of my peers-from coal miners to oil and gas providers to those working in renewable energy-now have more resources to invest in business expansion and job creation.
Our company has hired 160 new employees in the last 15 months and invested $15 million in new mining equipment, providing an economic shot in the arm not just to our employees, but also to Somerset, Cambria, and Washington County truckers, miners, dock operators, equipment suppliers, restaurant owners, hotel operators, and many others.
Job creators are more optimistic than ever. The energy industry has been reinvigorated. Because of that, the rest of America is reaping the benefits.
(George Dethlefsen is CEO of Corsa Coal, Canonsburg, Pa.)