Billy Long, President Donald Trump’s pick for IRS commissioner, Tuesday downplayed his involvement in selling tax credits that the Treasury Department and IRS have said don’t exist and indicated he would cooperate with any investigation into the credits.
Long, a former House member from Missouri, told lawmakers during a hearing before the Senate Finance Committee that his only involvement with nonexistent sovereign tribal tax credits was referring clients to Capitol Edge Strategies, a firm that advertises the credits on its website and paid him about $65,000, according to its ethics disclosures. He said he didn’t realize there were any issues with the tribal credits when referring them and all his work with that firm related to the credits.
Long said he would do whatever is “legal and lawful” if faced with an investigation into the tax credits as IRS commissioner.
“I’m not pushing back on investigating,” Long said in response to Sen. Catherine Cortez Masto (D-Nev.), who last month called for the IRS to open a criminal investigation into promoters of the tax credits, along with ranking member Sen. Ron Wyden (D-Ore.).
Senate Finance Chair Mike Crapo (R-Idaho) sought to get ahead of Democrats’ questions on the tax credit arrangement, opening questions at the hearing by asking Long if he had ever met or interacted with people at White River Energy Corp., the credits’ sponsor, and if he gave official tax advice.
Long told lawmakers he never had any interactions with White River executives and always recommended people to consult with their accountants.
Republicans Tuesday largely ignored the tribal tax credit issue, focusing questions on taxpayer services and and IRS modernization.
Still, Wyden and Cortez Masto hammered Long on his involvement in the tax credit arrangement, the existence of which was first disclosed by Bloomberg Tax.
Long said he still isn’t sure if the tribal tax credits exist.
“All of this is going to play out,” Long said in response to Wyden’s question about their existence. “I want to have it investigated if you do. I know you’re very interested in this subject, and I am too.”
People associated with the companies that have promoted the credits have donated thousands of dollars to Long to help pay off campaign debt from a failed Senate run.
Sen. Raphael Warnock (D-Ga.) asked Long if he would recuse himself in terms of investigations involving the campaign donors. Long said he would follow any Office of Government Ethics guidelines on the issue. Sen. Maggie Hassan (D-N.H.) also pressed Long on whether his donors knew they were helping him pay off a personal debt.
“Everything that I did was compliant with the Federal Election Commission,” Long said in response to Hassan.
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