colorful flag of the state of Tennessee waving on a background of American dollar money

MEMPHIS, Tenn. — After weeks of debate and compromise, Tennessee lawmakers approved a nearly $2 billion tax cut for the state’s businesses, but not without controversy.

The plan backed by Gov. Bill Lee could send refunds to more than 100,000 businesses across the state.

The measure will cost the state more than $1.5 billion up front and another $400 million each year in the future. Companies have three years to submit their application.

The names of those who apply will be shared publicly. That list will also show whether they received more or less than $10,000.

“Never, in the history of this state, have we exposed taxpayer information. Not his name, not his amount, and I’m not in favor of starting this now,” said Madison County Rep. Chris Todd.

“We are making an extraordinary tax cut here. And so, in this case, at this moment, we are allowing that information to come to light,” said Portland Rep. William Lamberth.

Republicans say the tax cut will help Tennessee avoid a lawsuit from companies. Since no case has been filed, some Democrats say the state should have stood its ground and fought.