Obama budget suggests possible sale of TVA - WSFA.com Montgomery Alabama news.

Obama budget suggests possible sale of TVA

Posted: Updated:
TVA offices in Chattanooga, TN (Source: Facebook) TVA offices in Chattanooga, TN (Source: Facebook)
  • More newsMore>>

  • Montgomery Co. DA protests DOC work release for violent offenders

    Montgomery Co. DA protests DOC work release for violent offenders

    Thursday, August 28 2014 7:23 PM EDT2014-08-28 23:23:47 GMT
    The Montgomery County District Attorney is voicing his concerns about dangerous criminals being able to work out in the community but the Department of Corrections is firing back, saying that the workMore >>
    The Montgomery County District Attorney is voicing his concerns about dangerous criminals being able to work out in the community but the Department of Corrections is firing back, saying that the work release program saves the state millions of dollars.More >>
  • Editorial: "Avoidable"

    Editorial: "Avoidable"

    Thursday, August 28 2014 7:20 PM EDT2014-08-28 23:20:08 GMT
    Earlier this week a child was critically injured after being struck by a vehicle at a busy intersection here in Montgomery. Reports are this child was attempting to cross four lanes of traffic after beingMore >>
    Earlier this week a child was critically injured after being struck by a vehicle at a busy intersection here in Montgomery. Reports are this child was attempting to cross four lanes of traffic after beingMore >>
  • Demonstrators protest inside Alabama Capitol, refuse to leave

    Demonstrators protest inside Alabama Capitol, refuse to leave

    Thursday, August 28 2014 7:09 PM EDT2014-08-28 23:09:20 GMT
    A group of Alabama citizens are inside the Alabama Capitol building, according to a statement from state senator Hank Sanders (D-Selma), and say they do not intend to leave the premises.More >>
    A group of Alabama citizens are inside the Alabama Capitol building, according to a statement from state senator Hank Sanders (D-Selma), and say they do not intend to leave the premises.More >>

NASHVILLE, Tenn. (AP) - The Obama administration's 2014 budget is calling for a strategic review of the Tennessee Valley Authority, opening the possibility the federally owned utility could be sold.
    
TVA officials seem to have been caught off guard by the budget proposal released Wednesday, with board Chairman Bill Sansom issuing a statement that says the utility doesn't know what options the review will consider. Sansom promised the board will "continue operating TVA in a sound financial manner" in the meantime.
    
Although TVA does not receive taxpayer appropriations, the utility's expenditure of borrowed funds does count in the federal deficit.
    
The section of the budget that discusses TVA says the utility's anticipated capital needs, which include expansion of nuclear power, are likely to quickly exceed the agency's $30 billion statutory cap on indebtedness.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow