INOLA, OK — The Oklahoma Legislature’s leading opponent of corporate welfare, State Representative Tom Gann, today issued a stark warning to his legislative colleagues regarding the ongoing misuse of public funds.
“Corporate welfare is when politicians take the public’s money to manipulate the economy, choosing winners and losers in the free market,” said Gann, a Republican from Inola. “In recent years, this practice has intensified, creating an era of corporate welfare on steroids, as Oklahoma legislators have pushed massive green-energy giveaways that align more with Washington, D.C.’s liberal agenda than Oklahoma’s conservative values.”
Gann pointed to last week’s bankruptcy of the high-profile, green-energy, electric vehicle startup, CANOO, as a prime example of why legislators must stop interfering in the free market.
“The bankruptcy of CANOO is yet another indicator that legislators must stop trying to pick winners and losers—they are terrible at it,” Gann said.
Gann says lawmaker should have seen this coming. In March 2022, Gann authored an article titled Is Oklahoma Being Sold Down the River for CANOO?, in which he raised concerns about the company’s questionable financial statements and attempted to warn the public about the perils of government subsidies for privileged businesses such as CANOO.
“Despite my warnings, Oklahoma politicians did not heed my advice. They lavished numerous public benefits on CANOO. Now, three years later, CANOO has declared bankruptcy, once again proving the folly of these corporate giveaways,” Gann stated.
According to Gann, the last few years have seen an unprecedented acceleration of corporate welfare, with Oklahoma lawmakers pursuing one green-energy scheme after another in a reckless bid to hand out public funds.
“This era of corporate welfare has wasted millions of our resources and valuable time. It must end,” Gann said.
Gann further criticized the methods by which these corporate welfare deals have been carried out, citing several alarming trends, including:
Lawmakers signing Non-Disclosure Agreements (NDAs), effectively preventing public discussion on multimillion-dollar deals.
Rushing multimillion-dollar corporate giveaways through the legislative process with minimal public transparency.
Awarding public funds to multinational, DEI-touting corporations that do not align with Oklahomans’ values.
And, once, even cutting off debate and denying Gann the opportunity to ask questions about a specific multi-million dollar corporate handout.
“In the most recent iteration of this disturbing trend, lawmakers have even created a special super committee dedicated to considering future giveaways,” Gann noted.
“This era of corporate welfare on steroids has led to abuses previously unimaginable,” Gann said. “The CANOO bankruptcy is just the latest proof that these policies do not work. Instead of attempting to micromanage the economy, politicians need to step back and allow the free market to operate without government interference.”
Gann concluded by calling on his colleagues to reverse course, prioritize fiscal responsibility and respect for the free market.
“Politicians must stop wasting their time and the public’s resources on these misguided efforts,” he said.
