Market
What will be the impact of Billy Long's policies on small businesses by December 31, 2025?
2
Resolution / Starting Odds
Significant positive impact • 25%
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Economic reports, IRS publications, or reputable news analyses
Story
Trump Nominates Missouri's Billy Long for IRS Commissioner, Aiming for Business-Friendly Tax Reform
Dec 4, 2024, 10:51 PM
President-elect Donald Trump has announced the nomination of former Congressman Billy Long from Missouri, known for his auctioneer background, to serve as the Commissioner of the Internal Revenue Service (IRS). Long, who has also worked as a business and tax advisor, is a long-time advocate of tax simplification, having co-sponsored the Fair Tax Act in 2011, which proposed replacing federal income, payroll, and estate taxes with a national sales tax. His appointment signals a potential shift towards a more business-friendly approach to taxation, particularly beneficial for small businesses, contrasting with the policies of the previous administration. Trump's decision to appoint Long also implies the intention to replace the current IRS Commissioner Danny Werfel before the end of his term in 2027.
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