Often with a cowboy style hatsince Billy Long left the US Congresshas become a successful businessman. His specialty, advise to other companies when making the income tax return. “Write me for save 40% on your taxes. There’s a new package of tax credits!” Long writes in his X (formerly Twitter) bio. His trickand tax relief designed for companies that kept their employees on the payroll during the pandemic. A whole wave of tax preparation advice began to take their clients in that direction, even to those who were not eligible for the credit. To such an extent that Treasury was collapsed with the review of applications that were not successful, and suspended the measure. Billy Long has not been the only one who has profited and has made others profit by taking massive advantage of legal loopholes for tax evasion, but it has been precisely him who Trump has chosen as head of the American Treasury, called the Tax Service. Internal Revenue Service (IRS), an institution that the president and his henchman want to dismantle, as they have repeatedly expressed.
This legal trap of which Billy Long and his advisors benefitand The Treasury called it “wild misrepresentation and exaggeration.” about who can qualify for the credits,” has cost the public coffersat the moment, 230,000 millionmuch more than the initial forecast of $55 billion. Analysts warn that The bill could double up to 550,000 million as financial relief has only been paused, not canceled, and applications remain to be reviewed. He greatest fear Now, if the Senate confirms Long’s candidacy for the job at the head of the tax collection agency, he could leverage his new position of power to facilitate access to this credit to companies he advised. This personal advantage would also give him an argument in favor: that the Treasury is inefficient and that it should be abolished.
Abolish Treasury
Long, who before becoming a tax advisor was a well-known auction businessmanwas 12 years in the House of Representatives as a Missouri legislator, from 2011 to 2023, a position he left to run, unsuccessfully, for a Senate seat in 2022. During his time in Congress, Long served on the Energy and Commerce, Homeland Security, and Transportation and Infrastructure committees, but was never a member of the main tax drafting committee of the House. On the other hand, he was one of the promoters of bills to abolish the Treasury and replace the federal income tax system with what they called “the national sales tax,” an idea that it didn’t go ahead.
This opposition to the institution itself would overthrow the current strategy of the current board, nominated by the President Joe Bidenof modernize the collection process tax. USA, country cradle of the latest technologyas far as tax reporting is concerned, continues to work today with physical paper forms. One of the biggest projects of the current administration has been the launch of a free online tax filing program which did not have the support of many Republican lawmakers, some of whom have criticized the program for “illegitimate and unnecessary“for considering it unfair competition to tax consultancies like Billy Long’s.
