In March, WISPIRG’s Bruce Speight joined Gov. Jim Doyle as he signed a bill that will require the state to disclose information regarding economic development subsidies and makes this information publicly available online. The bill means taxpayers will have a way of knowing exactly who’s getting support from the state coffers.

Speight and WISPIRG Tax and Budget Analyst Phineas Baxandall wrote in support of the bill in the Milwaukee Journal Sentinel.

“It always makes sense for government to improve the bang it gets for its buck, but especially during tough budget times. Democrats and Republicans deserve credit for having found a way to do so,” they wrote.

“Despite partisan bickering that delayed this year’s budget by four months, representatives from both chambers have reached across party lines to pass a bipartisan bill that creates public disclosure of government subsidies for economic development.”

Last summer, the Journal Sentinel examined deals with 25 big companies that were awarded state subsidies. The investigation found that, overall, the companies fell about 40 percent short on the job creation they promised in order to receive the subsidies. In the absence of established accountability mechanisms, the investigation reported that the state often lowers its requirements rather than canceling the subsidies or seeking repayment.

This legislation will help prevent that by holding companies accountable and making this data available to the public, and by providing a sort of money-back guarantee for taxpayers if the recipients of subsidies don’t make good on their promises.