President Obama suggests privatizing TVA
Giftwrapped nukes? President Obama’s latest budget plans call for wrapping the TVA, including the Bellfonte nuclear plant, in Hollywood, Ala., for sale on the private market.
Saying that the Tennessee Valley Authority is likely to exceed it’s borrowing cap and that it has met its original objectives, President Barack Obama suggested “reducing or eliminating the Federal Government’s role in programs such as TVA,” in his proposed 2014 budget.
“Given TVA’s debt constraints and the impact to the federal deficit of its increasing capital expenditures,” the budget document says, “the Administration intends to undertake a strategic review of options for addressing TVA’s financial situation, including the possible divestiture of TVA, in part or as a whole.”
Originated during the Depression as a public works project that would also help with flood control, the TVA has been producing electricity ever since.
TVA is the source of power in Huntsville and across much of northern Alabama, as well as neighboring states.
The Scottsboro Daily Sentinel has started an online vote on the President’s plan and Bloomberg Businessweek describes the proposal as “a hard sell.”