The highest-paid federal employee in the United States may soon be facing a pay cut. US President Trump said that the more than $8 million salary for Jeff Lyash, president of the Tennessee Valley Authority, is “ridiculous” and that he would support “reducing it a lot” as part of an infrastructure package.
“I’ve been waiting for somebody to ask me about that,” Trump told reporters after taking a question on the subject. “It’s been bothering me for a long time, too.”
The TVA is a government-owned electricity company that also controls dams and flood control. It operates in seven states. Lyash took over as its president and CEO in April 2019.
Lyash was paid a base salary of $920,000 last year, the Chattanooga Times Free Press reported. By comparison, the salary for the president of the United States is $400,000. The TVA president earned $8.16 million last year thanks to performance bonuses tied to his pension and a payout of about $1.8 million for moving from Ontario, Canada, where he was president and CEO of another power company, according to reports.
This year, Lyash’s base salary increased to $1.058 million and includes millions more in performance and retention grants, the New York Post reported.
“I don’t know the gentleman, but he’s got a heck of a job,” Trump said. “He gets paid a lot of money.”
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