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What key legislative action related to tax reform will occur by December 31, 2025?
2
Donald Trump•Missouri•Billy Long•Internal Revenue Service•IRS•Long•Congress•Fair Tax Act•Trump•Danny Werfel•Senate Republicans
Resolution / Starting Odds
National Sales Tax Passed • 25%
Income Tax Reform Passed • 25%
No Major Changes • 25%
Other Reform Passed • 25%
Official U.S. government announcements or reputable news outlets
Story
Trump Nominates Former Missouri Congressman Billy Long to Replace IRS Commissioner Danny Werfel
Dec 4, 2024, 11:27 PM
President-elect Donald Trump has nominated former Missouri Congressman Billy Long to serve as the Commissioner of the Internal Revenue Service (IRS). Long, who has 32 years of experience in real estate and auctioneering, as well as 12 years in Congress, is known for his advocacy of tax simplification. He co-sponsored the Fair Tax Act in 2011, which aimed to replace federal income, payroll, and estate taxes with a national sales tax. Trump's announcement signals his intent to replace the current IRS Commissioner, Danny Werfel, before his term ends in 2027. Senate Republicans have already indicated their support for Long's nomination, citing his potential to restore trust in the IRS and improve customer service.
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Similar markets
Adoption of national sales tax • 25%
Simplification of current tax code • 25%
No significant changes • 25%
Other major reform • 25%
No • 50%
Yes • 50%
New tax cuts introduced • 25%
Tax cuts extended • 25%
No significant changes • 25%
Tax increases implemented • 25%
