300 



MULTIPLE PURPOSE RIVER DEVELOPMENT 



Willamette River project, cont. 

 accounting costs, cont. 



assumptions, 207; 



in the competitive model, 210; 



and money costs and differential 

 tax liabilities, 209, 210, 213; 



reasons for, 209-10; 



reflected in power rates, 211; 

 costs, distribution by income classes, 

 211-23: 



accelerated amortization, effect on 

 shifting tax liabilities, 220-23; 



under federal development, 211-13, 

 216-17,276; 



focus of the present study, 214-16; 



and government tax policy, 213-14; 



under nonfederal public develop- 

 ment, 217; 



opportunity cost and rate of re- 

 turn to federal development, 

 215; 



under private development, 220- 

 23; 



tax shifting, effects of, 213, 215-23; 

 costs, distribution by regions, 223-33: 



corporate tax change shifted to 

 consumers, 228-29; 



corporate tax change shifted to 

 wage and salary earners, 229; 



under federal development, 224, 

 232, 275, Tables, 226, 232; 



under nonfederal public develop- 

 ment, 224, Table, 226; 



under private development, 224, 

 227; 



regional incidence, assuming a tax 

 cut stimulating consumption, 

 223-27, Tables, 225-27; 



regional incidence, assuming a tax 

 cut stimulating investment, 227- 

 33, Tables, 230-31, 232; - 

 development proposals, 200-207, 

 Table, 201, Fig., 203: 



estimated annual benefits, distri- 

 bution under integrated plan, 

 Table, 204; 



federal and nonfederal develop- 

 ment, alternate plans for, 204- 

 207; 



integrated (U.S. Army Corps of 

 Engineers) plan, 202-204, 206; 



integrated and alternate plans, 

 efficiency of, compared, 206-207; 



Willamette River project, cont. 

 development proposals, cont. 



money costs, differences in under 

 alternate plans, 210; 



power installations under inte- 

 grated plan. Table, 202; 



sacrifice of efficiency, under federal 

 and nonfederal public develop- 

 ment, 206n; 



social cost of investment funds, 

 206; 

 gains, first-round effects in distribu- 

 tion of, 235-39: 



and Bonneville power sales, 236- 

 38, Tables, 237, 238; 



under federal development, 235- 

 39; 



and industrial uses of energy, 238- 

 39; 



under local development, 239; 



and preference clause, 234, 235, 

 236; 



and preference customers' require- 

 ments, 239; 



under private development, 239; 

 gains, successive rounds of effects un- 

 der federal development, 239-57: 



aluminum industry, distribution 

 of gains by, 248-51; 



capital, before-tax gains to, 241, 

 252; 



consumers, gains to, 241, 245, 251, 

 252; 



gains and losses among owners of 

 capital services, 254; 



gains from private utilities' profits, 

 distribution of, 244, Table, 245; 



gains from sales to electro-process 

 industries, 247-57, Table, 253; 



gains from sales to federal agen- 

 cies, 246, Table, 247; 



gains from sales by preference cus- 

 tomers, 239-42, Tables, 242; 



gains from sales by private utili- 

 ties, 243-45, Table, 246; 



gains from savings in cost of power 

 to private utilities' customers, 

 244-45; 



households, gains to, 241, 243, 252, 

 255, 256, 256n; 



and intra- and extra-regional own- 

 ership of private utilities, 240- 

 41, 244; 



