President Obama’s 2014 Budget Proposal
April 10, 2013
President Barack Obama released his fiscal year 2014 budget earlier today. It includes unexpected language about TVA in the chapter entitled, “Creating a 21st Century Government.” According to the information in the budget, the Administration intends to undertake a strategic review of TVA.
“We will be working with the Office of Management and Budget to provide the information they request regarding the strategic review. While we do this, our employees will stay focused on doing their jobs, serving our customers and the people of the Tennessee Valley,” said Bill Johnson, President and CEO.
Even though TVA is owned by the federal government, it does not receive taxpayer dollars and its debt is not taxpayer funded. According to John Thomas, CFO, “TVA is the lowest cost business model and the best value for the region. We remain financially healthy.”