Companies have an interest in keeping certain financial data private, so a state is justified in not divulging that information when it considers granting incentives to a business to get it to build or expand in the state.
But lawmakers of both parties are rightly skeptical of legislation backed by Gov. Bill Haslam that would keep not only sensitive financial data but also the ownership of companies getting taxpayer-funded grants confidential.
True, the state might lose some economic development if a company went elsewhere upon realizing it would have to make its ownership public to get an incentive. But that concern is outweighed by the need for transparency when taxpayer dollars are at stake and by the possibility of conflicts of interest -- a possibility that transparency may head off.
Senate Speaker Ron Ramsey says the bill in its current form likely would fail. It would deserve to.
And as such, it should be revised.
ANOTHER SECRET ,,,THIS IS TAXPAYER MONEY WE ARE TALKING ABOUT NOT GOVERNMENT MONEY,,,THE PEOPLE HAVE A RIGHT TO KNOW WHERE AND WHAT THE MONEY IS GOING TO... SEN. RAMSEY SAYS THIS BILL SHOULD BE REVISED,,,WRONG,,,,IT SHOULD BE ABOLISHED,,,WHERE TAXPAYER MONEY IS GOING SHOULDN'T BE WHAT SOME PEOPLE CALL A SECRET,,,WHICH IS A NICE WAY OF SAYING THAT WE ARE GOING TO SCREW THE TAXPAYER,,,, IF THERE IS SUCH A THING..WE NEED THE GOVERNMENT TO BE MORE ACCOUNTABLE TO US THE TAXPAYER,,,NOT LESS,,,THIS IS NOT ABOUT THE GOVERNMENT OR GOV HASLAM ,,IT IS ABOUT HONEST HARD WORKING PEOPLE,,,,NOT HAVING ACCOUNTABILITY TO THEIR TAX DOLLARS..WE DESERVE BETTER THAN THIS..
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