California Focus: Latest bailout plan: Utilities seek your income info ...Middle East

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California Focus: Latest bailout plan: Utilities seek your income info
By law, federal and state tax returns are confidential. Even some presidential candidates, most notably Donald Trump in both 2016 and 2020, have managed to use this fact to hide their finances from voters. But now comes the latest bailout effort for California’s three largest electric utilities, Pacific Gas & Electric, Southern California Edison and San Diego Gas & Electric. The three worked together in 2022, lobbying a bill through the Legislature to partially link utility rates with household incomes. They sold their plan as a way to bring equity to power rates, where low-income families now pay about as much as the rich per kilowatt hour used. In reality, if this plan comes to pass, it wi

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