Business seeing the effects of Trump's tax cuts and job act

Business seeing the effects of Trump's tax cuts and job act
(Source: KPLC)

LAKE CHARLES, LA (KPLC) - Businesses across the country are starting to see the effects of President Trump's tax cuts and jobs act.

The corporate tax rate slashed from 35 percent to 21 percent, but are any of those tax savings businesses are getting being passed on to customers?

Entergy Louisiana customers can expect an average rate reduction of $4.20 a month starting this May, according to Entergy senior manager Chip Arnold.

The tax cuts and jobs act went into effect in January, and while business owners like Dennis Stine, CEO of Stine Lumber, say that he is monitoring the impact while making changes to benefit his employees and the business.

U.S. Representative Clay Higgins says that he has met those in his district directly affected by the tax cuts and jobs act.

The Congressional Budget Office did release its budget and economic outlook report, saying that while the new tax cuts will grow the size of the economy, it will also increase the federal deficit for $1.9 trillion over the next ten years.

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