Rep. Tom Gann, R-Inola, has expressed concerns about corporate welfare following the bankruptcy of CANOO, a green-energy electric vehicle startup. Gann views the company's financial troubles as an example of the risks associated with government involvement in the economy and market intervention.
According to a report by the Oklahoma House of Representatives, "Corporate welfare is when the government takes the public's money to manipulate the economy, choosing winners and losers in the free market," Gann said. He argued that this policy has been pursued excessively and often reflects political agendas rather than conservative principles. Gann believes the government has struggled to predict market winners and has implemented welfare policies without adequate oversight.
Gann's concerns date back to March 2022, when he wrote an opinion piece questioning the financial support given to CANOO. He reiterated his position after the company's bankruptcy, saying, "Despite my warnings, my advice was not heeded. Instead, numerous public benefits were lavished on CANOO. Now, three years later, CANOO has declared bankruptcy, once again proving the folly of these corporate giveaways," as stated in the Oklahoma House of Representatives report.
Gann also criticized the lack of transparency in corporate welfare deals, particularly citing Non-Disclosure Agreements (NDAs). The signing of NDAs prevents public discussion on multimillion-dollar deals, Gann noted, according to the same report, as part of a troubling trend in government practices. He also expressed concern about government policies aligning with multinational corporations promoting Diversity, Equity, and Inclusion (DEI), which he believes may not reflect the values of Oklahomans.
Gann called for a focus on fiscal responsibility and a return to market-driven policies, free from government interference. "The government must stop wasting its time and the public's resources on these misguided efforts," he said in an Oklahoma House of Representatives report.
