Treasury Secretary Bessent to Continue as Permanent IRS Commissioner After Temporary Role Sources Indicate
U.S. Treasury Secretary and IRS Leadership Shake-Up Amid U.S.-China Talks in Madrid
Scott Bessent to Continue as IRS Commissioner
In a surprising development during pivotal U.S.-China trade discussions in Madrid, U.S. Treasury Secretary Scott Bessent will continue as the Commissioner of the Internal Revenue Service (IRS). This decision comes after President Donald Trump removed Billy Long from the position shortly after his confirmation earlier this year.
New Leadership at IRS: Frank Bisignano Appointed as CEO
Amidst changes at the IRS, Frank Bisignano has been appointed to the newly created role of CEO. Bisignano, who is currently the commissioner of the Social Security Administration (SSA), will now oversee daily operations at the IRS while maintaining his responsibilities at the SSA.
Frank Bisignano’s Extensive Experience
Frank Bisignano brings a wealth of experience to his new position. Previously, he was the president and CEO of Fiserv, leading the noteworthy merger with First Data in 2019. His career also includes key roles at JPMorgan Chase and Citigroup, where he contributed significantly to their operations.
IRS and Treasury Shared Leadership
Both Scott Bessent and Frank Bisignano are expected to manage dual roles within the administration indefinitely. Bessent, apart from his Treasury and IRS duties, is also spearheading the search for a successor to Federal Reserve Chair Jerome Powell, whose term concludes in May 2026.
Search for New Federal Reserve Chair
- Led by: Scott Bessent
- Current Chair: Jerome Powell (Term ends May 2026)
- Candidates Interviewed: 11
- Next Steps: Selection of 3 to 5 finalists for President Trump’s consideration
The ongoing developments highlight President Trump’s strategic maneuvers within the financial administration and reinforce the unpredictable landscape of U.S. economic policymaking. For more detailed updates and expert insights, stay tuned to Emegypt.
