President Trump on Wednesday called on Congress to slash the salary of the top-paid federal employee, Jeff Lyash, who earned $8.1 million last year as president of the Tennessee Valley Authority.
“It is ridiculous … it has to be the highest-paid man in any government, makes approximately $8 million or $9 million,” Trump said Wednesday at a White House press conference, responding to The Post’s reporting on efforts by administration members and some Democrats to cut Lyash’s pay in an infrastructure bill.
“He gets paid a lot of money,” Trump said. “As you know, that is a quasi-public agency … and that person makes a lot of money, which is an amazing thing.”
Trump confirmed that he wanted lawmakers to cut the compensation in an infrastructure bill.
“Yeah, reducing it by a lot. That is the greatest job in the history of government almost, certainly if you’re into money … I’ve been waiting for somebody to ask me about that, it’s been bothering me for a long time,” Trump said.
On Wednesday morning, The Post reported that some members of Trump’s administration wanted to cut TVA executive pay as part of a forthcoming infrastructure bill endorsed in principle by Trump and House Speaker Nancy Pelosi (D-Calif.). Trump wants the package to cost $2 trillion.
The proposal is potential bipartisan common ground, with Rep. Steve Cohen (D-Tenn.) telling The Post he also wants a cut implemented.
Cohen, a member of the House Committee on Transportation and Infrastructure, told The Post the move was overdue.
“This has been wrong for decades and those salaries should be considerably reduced, particularly at this time,” Cohen said. “But even if we weren’t in the midst of a great health and economic crisis, the salaries are way too high and should be reduced greatly.”
A member of Trump’s administration told The Post, “At a time when people are hurting, business leaders and even the president of the United States are forgoing salaries to help those in need, but not the TVA president. It’s outrageous the American taxpayer is footing the $8 million-plus salary in good times, let alone at a time of national emergency.”
The TVA, which operates dozen of hydroelectric dams and three nuclear power plants, is moving to outsource 220 IT and engineering jobs to India.
TVA spokesman Jim Hopson defended the high executive pay.
“TVA’s CEO total compensation is approximately 25 percent of the compensation of CEOs of comparable utilities,” Hopson said. “We do appreciate the support of the congressional delegation that represents the seven states TVA serves in the Tennessee Valley.”
For 2020, Lyash’s base salary is $1.058 million, with $3.36 million in performance and retention grants. His 2019 compensation of $8.16 million included $5.97 million in future pension pay and a $380,000 signing bonus after leaving a job in Canada in April.
