TERRE HAUTE, Ind. (WTHI) - The Tax Cuts and Job Acts Law was passed in late 2017. Now, Indiana residents are going to feel the aftermath in their wallets.
Duke Energy customers in Indiana are going to start to see lower prices on their electric bills. The company plans to pass along the savings they've earned from a new federal tax law to their customers.
Indiana customers are going to get more than $140 million in annual savings from their electric bills.
"So that's exciting news." Richard Burger, the manager at Duke Energy Corporation in Terre Haute said. "It's kind of a unique way of giving and decreasing the bills for electric."
On average a customer will save a little more than seven dollars a month. That adds up to just under $90 dollars a year.
"Good news is, it's a decrease and yeah people continue to see an increase in a lot of things in their daily lives," Burger said.
Indiana customers will start to see their bills lower but with the hot summer months, Burger says you might not see it just yet.
"Our air conditioner hasn't shut off since the extreme heat set in so bills are going to be higher," Burger said.
One local tax agent says to ask yourself some question and pay attention to your monthly bill, starting now, to make sure you see that decrease.
"Is that bill going down?" Thomas Jeffers, Enrolled Agent and President of Tax Master asked. "Are they going to be seeing some relief as far as how much they're paying for electricity?"
We can all agree that saving money will always be a good thing.
"As long as the American taxpayer can see it affect their pocketbook and their overall disposable income and have more money to do other things rather than just trying to survive I think that's one issue we can all agree on," Jeffers said.
Indiana customers will most likely start to see changed this upcoming September. If you want to see a break down of the Tax Cuts and Jobs Act law you can find that here.
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