UNITED STATES – MARCH 31: Rep. Billy Long, R-Mo., is seen during the House Energy and Commerce Subcommittee on Communications and Technology hearing titled Connecting America: Oversight of the FCC, in Rayburn Building on Thursday, March 31, 2022.
Tom Williams | Cq-roll Call, Inc. | Getty Images
Senate lawmakers pressed President Donald Trump‘s pick for IRS Commissioner, former Missouri Congressman Billy Long, about his opinions on presidential power over the agency, use of taxpayer data and his ties to dubious tax credits.
Long, who worked as an auctioneer before serving six terms in the House of Representatives, answered Senate Finance Committee queries during a confirmation hearing Tuesday.
One of the key themes from Democrats was Trump’s power over the agency, and Long told the committee, “the IRS will not, should not be politicized on my watch.”
More from Personal Finance:
What Moody’s downgrade of U.S. credit rating means for your money
Long-term care costs can be a ‘huge problem,’ experts say. Here’s why
How student loan borrowers can avoid default as Trump ramps up collection efforts
Sen. Elizabeth Warren, D-Mass., who provided her questions to Long in advance, asked whether Trump could legally end Harvard University’s tax-exempt status. If permitted, the move could have broad implications for the President’s power over the agency, she argued.
However, Long didn’t answer the question directly.
“I don’t intend to let anybody direct me to start [an] audit for political reasons,” he said.
Ties to dubious tax credits
Sen. Ron Wyden, D-Ore., scrutinized Long’s online promotion of the pandemic-era employee retention tax credit worth thousands per eligible employee. The tax break sparked a cottage industry of scrupulous companies pushing the tax break to small businesses that didn’t qualify.
“I didn’t say everyone qualifies,” Long said. “I said virtually everyone qualifies.”
Senators also asked about Long’s referral income from companies pushing so-called “tribal tax credits,” which the IRS has told Democratic lawmakers don’t exist.
“I did not have any perception whatsoever that these did not exist,” Long told the committee.
Senate Democrats also raised questions about donations people connected to those credits made to Long’s dormant Senate campaign, after Trump announced his nomination to head the IRS.
Direct File ‘one of the hottest topics’
While Senate Democrats grilled Long on his record, Republicans focused on questions about taxpayer service. Several Republican lawmakers voiced support for Long, including the committee chairman Mike Crapo, R-Idaho.
If confirmed by the Senate, Long could mean a shift for the agency, which previously embarked on a multibillion-dollar revamp, including upgrades to customer service, technology and a free filing program, known as Direct File.
When asked about the future of Direct File, Long said he planned to promptly examine the program, describing it as “one of the hottest topics at the IRS.”
‘An unconventional pick’
Since former IRS Commissioner Danny Werfel’s resignation in January, there have been three other leaders for the agency. If confirmed, Long would serve as IRS Commissioner for the remainder of the term through Nov. 12, 2027. The date for the vote isn’t yet confirmed.
Mark Everson, who served as IRS commissioner from 2003 to 2007, described Long as “an unconventional pick,” compared with the experience profiles of previous IRS leaders.
But Long’s years in Congress will provide “credibility up on the Hill with the people who matter, which will be important,” Everson, who is currently vice chairman at Alliant, a management consulting company, previously told CNBC.
Long may be in a “better position than others to argue for the appropriate independence of the agency,” he said.
Source link
