President Trump infrastructure plan issues call to examine selling TVA
NASHVILLE, Tenn. (AP) - President Donald Trump's infrastructure plan suggests studying whether the nation's largest public utility should sell its transmission assets, which Tennessee Republican Sen. Lamar Alexander calls "a looney idea" with "zero chance of becoming law."
Tennessee Valley Authority spokesman Jim Hopson said Monday the TVA will work with the Office of Management and Budget to help everyone understand the full implications of the proposal.
TVA CEO Bill Johnson said congressional action would be required.
The plan's outline says federal ownership of these assets can result in sub-optimal investment decisions and create risk for taxpayers.
Alexander opposed then-President Barack Obama's similar, failed 2013 plan.
Alexander said that 2013 proposal undermined TVA's credit, raised interest rates on its debt and threatened to increase electric bills for 9 million customers in seven Southern states.