Lawmakers want to know if Lee's business will benefit from multi-billion dollar tax changes
As the Tennessee General Assembly considers two different proposals to cut corporate taxes, legislative Democrats are raising questions about whether Gov. Bill Lee's business will benefit from the move.
Lee has asked the legislature to approve both a corporate tax refund valued at $1.6 billion and a cut in certain corporate taxes with an estimated price tag over the next decade of over $4 billion.
Lee is the owner of the Lee Company, a $300 million, Tennessee-based business with locations in four states that provides HVAC, electrical and plumbing services to residential, industrial and commercial buildings.
Democrats have asked Lee to release corporate tax returns from the last four years to determine if he or his businesses will benefit from the proposed tax changes.
House Democratic Caucus Chair John Ray Clemmons, who signed the letter from Democrats to the Governor asking for tax information said the request is about transparency.
“Gov. Lee is attempting to sneak through the legislature one of the largest corporate tax breaks in modern history by misrepresenting it as a legal necessity,” Clemmons said. “The least he could do is be honest about whether he and his own company stand to financially benefit from the legislation.”
