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Politics : PRESIDENT GEORGE W. BUSH
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To: Roger A. Babb who wrote (132884)3/23/2001 10:44:55 AM
From: TimF  Read Replies (1) of 769667
 
But TVA is not government subsidized and has not been since 1945 except for the fact that it is entitled to borrow money at the lower government bond rates and does not pay income tax.

I believe they still do get a direct subsidy. Also not having to pay taxes in effect subsidizes them and borrowing money at a lower rate is a significant benefit for a capital intensive industry.

Tim
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