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Did you pay more than a penny in income taxes over the last 3
years Friend?
These corporations didn’t:
Ohio’s investor-owned
utilities FirstEnergy, AEP and Duke Energy haven’t paid federal
income taxes in years according to a report by the Institute on Taxation and
Economic Policy, a nonprofit, non-partisan think tank.
A neat trick: FirstEnergy ducks their tax bill while
shifting costs onto consumers.
FirstEnergy is still on the hook for its $61 million
statehouse corruption scandal to pass House Bill 6 - a
$1.3 billion bailout package called the "worst energy policy in the nation."
Most of the bailout money was meant to prop up FirstEnergy's
two failing nuclear plants, but more than $100 million
has gone to subsidize two dirty,
Eisenhower-era coal plants partially owned by AEP and
Duke.
While the companies pleaded for bailouts from Ohio
ratepayers, their tax information shows healthy revenue.
FirstEnergy netted almost $3.7 billion before taxes over the
past three years, yet it’s allowed to show a loss for tax
purposes.
Governor Mike DeWine and lawmakers have quietly repealed $1
billion in nuclear bailout subsidies, but the coal subsidies continue
to roll in. The Ohio Consumers’ Counsel says that so far $107 million in coal subsidies have gone to
OVEC coal plants since the beginning of 2020. Another $233,000
rolls in EVERY DAY.
Ratepayers pay federal income taxes
in addition to state and local taxes — PLUS their electric
bills. It's past time for Ohio
utilities to pay their fair share of taxes, too.
Ohio Citizen Action has fought for
your consumer rights since 1975.
Thank you!
Ohio
Citizen
Action
http://www.ohiocitizen.org/
P.S. Don’t forget about
our special Earth Day program, Local Solutions to Address Climate
Change on April 21. Ohio Citizen
Action Executive Director Rachael Belz and Climate and Environmental
Justice Advocate Carla Walker will discuss what we can do in our own
backyard to make progress in the battle against climate change.
Register today!
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