Democratic lawmakers demand Governor Lee release business tax returns

NASHVILLE, Tenn. (WTVF) — Democratic lawmakers will hold a press conference today to demand that Gov. Bill Lee release business tax returns and other business details.

The press conference comes just a day before the governor’s proposed $5.7 billion tax cut and refund bill is considered for its first vote in the Senate.

Lawmakers delivered a letter to Governor Lee’s office on March 7th requesting financial information. In the letter, they asked Lee to submit the last four annual franchise and excise tax returns filed by the Lee Company, as well as state returns for other businesses in which the governor has a financial interest. is requested to be made public. They say this is to show whether the governor will benefit. New tax plan.

They also want new laws and better use of tax collection to support families.

The first part of Lee’s tax cut bill would give some companies $1.6 billion in immediate tax refunds. In Part 2, over the next 10 years he will enact new tax breaks for the same companies worth $4.1 billion.

The governor has said he is introducing the bill to avoid legal challenges.

Democratic lawmakers said they believe Tennesseans deserve transparency about whether the governor will benefit financially from what they claim is the largest tax benefit in Tennessee history.

“Governor Lee is attempting to bypass Congress by misrepresenting one of the largest corporate tax cuts in modern history as a legal necessity,” said House Democratic Caucus Chairman John. Ray Clemons said. “The least he can do is be honest about whether he and his company stand to benefit financially from this bill.”

Sen. London Lamar, chairman of the Senate Democratic Caucus, who also signed the letter, said this corporate welfare would further delay needed investments for Tennessee families and weaken public trust in government.

“If we want people to trust the decisions being made on Capitol Hill, transparency is key,” Lamar said. “The people I represent say we should invest in working families and the economy, not in tax cuts for big corporations.”

So far, Governor Lee has not responded to the letter.

Sen. Jeff Yarbro and Rep. John Ray Clemons will hold a press conference on Monday to introduce the new bill in the Senate. This bill preempts any legal challenges, preserves corporate tax collections for future investments in families, and provides a dollar-for-dollar deduction for businesses that demonstrate legitimate double taxation. be.

The press conference will be held in Cordell Hull’s first floor press room.It is scheduled for 11:30 a.m.