An update to our reporting on the controversial Tennessee Valley Authority whose CEO is America’s highest paid federal employee. Now, President Trump is slashing that paycheck by 90%, prompting the agency’s CEO to announce his retirement.

The following is a transcript of a report from “Full Measure with Sharyl Attkisson.”
Watch the video by clicking the link at the end of the page.

Last fall we reported on TVA’s plans for a power plant on land long owned by families in rural Tennessee.

Eventually, Malher says, a stream of mysterious visitors fessed up to why they were there: to explore building a giant methane gas and lithium-ion battery plant nearby.

Malher: I made those, the TVA guys walk down the road with me and I said “Where will the plant be?” And I said, “Right there”? And, they shook their heads. And I said, “Now just tell me, will I be able to live here? Will my neighbors be able to live here?” “No,” this was the answer

Country music star John Rich got involved to help the land owners— even wrote a song about it.

After that, President Trump stepped in, and the TVA abandoned its controversial plan. But another sore spot was TVA’s salaries.

To residents, suspicion is fueled by what they see as the TVA’s secrecy, industry connections, and jaw-dropping executive salaries, topped off by its recent past CEO, Jeffrey Lyash. He raked in $10.5 million a year—making him likely the highest-paid government employee in the U.S.

Sharyl (on camera): That’s 26 times more than the President of the US. The salary was slashed for Lyash’s successor Don Moul, who got about half that last year: $5.7 million. But President Trump says that’s still way too much. He recently issued a memo limiting TVA employees to no more than $500,000 compensation. CEO Moul quickly announced his retirement. He’s reportedly leaving with more than $5 million in retirement benefits after five years at TVA and 15 months as CEO.

Watch the video here.