Iowa’s massive tax credit system costs the state as much every year as all of its state and local government agencies combined spend on mental health and disability services for some of its most vulnerable residents. Is that a good trade-off? Unfortunately, there’s no way for Iowa’s taxpayers to know for sure, thanks to the lack of transparency surrounding those deals. In the Des Moines Register, CEA’s John Mozena and TEF Iowa’s John Hendrickson argue that it’s time for Iowa to open up the books on its tax credits:
It’s a simple question of good government: If Iowa’s taxpayers are being asked to invest in private businesses, they should have access to as much information about the deal as any bank loan officer or Wall Street analyst presented with a similar investment opportunity.