Connect with us
LIVE

Business

An ‘IRS CEO’ now exists, and Social Security Administrator Frank Bisignano is the first to fill the position

Published

on

An 'IRS CEO' now exists, and Social Security Administrator Frank Bisignano is the first to fill the position

Social Security Administration Commissioner Frank Bisignano was named to the newly created position of CEO of the IRS on Monday, making him the latest member of the Trump administration to be put in charge of multiple federal agencies.

As IRS CEO, Bisignano will report to Treasury Secretary Scott Bessent, who currently serves as acting commissioner of the IRS, the Treasury Department says. It is unclear whether Bisignano’s newly created role at the IRS will require Senate confirmation.

The Treasury Department said in a statement that Bisignano will be responsible for overseeing all day-to-day IRS operations while also continuing to serve in his role as commissioner of the Social Security Administration.

Bessent said in a statement that the IRS and SSA “share many of the same technological and customer service goals. This makes Mr. Bisignano a natural choice for this role.”

The move to install Bisignano at the IRS adds another layer to the leadership shuffling that has occurred at the agency since the beginning of Trump’s term. Bessent was named acting commissioner in August after Trump removed former U.S. Rep Billy Long from the role less than two months after his confirmation, and made him ambassador to Iceland.

The four acting commissioners who preceded Long in the job included one who resigned over a deal between the IRS and the Department of Homeland Security to share immigrants’ tax data with Immigration and Customs Enforcement and another whose appointment led to a fight between former Trump adviser Elon Musk and Bessent.

With two day jobs, Bisignano joins a number of other Trump administration officials to wear multiple hats, including Bessent, Marco Rubio, Sean Duffy, Jamieson Greer and Russell Vought.

IRS and Social Security advocates expressed concern about the new appointment.

Kathleen Romig, director of Social Security and Disability Policy at the Center on Budget and Policy Priorities, pointed to Bisignano being named to a position that appears to avoid Congressional approval.

“If the Trump Admin asked for the Senate’s advice & consent, would they really want the same person running the government’s biggest program AND overseeing the implementation of the extraordinarily complex new tax law?” she said on the Bluesky social media app.

Advertisement

And Nancy Altman, President of Social Security Works, an advocacy group for SSA recipients and future retirees, said Bisignano’s “divided attention will create a bottleneck that makes the inevitable problems that arise even harder to correct. Never in Social Security’s 90-year history has a commissioner held a second job. Bisiginano’s new role will leave a leadership vacuum at the top of the agency, especially since the Republican Senate hasn’t even confirmed a deputy commissioner.”

Bisignano has served as chair of Fiserv, a payments and financial services tech firm, since 2020. He is a onetime defender of corporate policies to protect LGBTQ+ people from discrimination.

Fortune Global Forum returns Oct. 26–27, 2025 in Riyadh. CEOs and global leaders will gather for a dynamic, invitation-only event shaping the future of business. Apply for an invitation.

Source link

Title

This industrial giant is emerging as a big AI play, says Wells Fargo This industrial giant is emerging as a big AI play, says Wells Fargo
Crypto5 months ago

This industrial giant is emerging as a big AI play, says Wells Fargo

  Wells Fargo sees Caterpillar continuing to roar higher, emerging as an artificial intelligence play. The bank initiated shares of...

Novo Nordisk's strategy tested as investors push back on board revamp Novo Nordisk's strategy tested as investors push back on board revamp
Crypto5 months ago

Novo Nordisk’s strategy tested as investors push back on board revamp

    Flags with the logos of Danish drugmaker Novo Nordisk, maker of the blockbuster diabetes and weight-loss treatments Ozempic...

Alibaba plans AI subscriptions, stablecoin-like payments with JPMorgan Alibaba plans AI subscriptions, stablecoin-like payments with JPMorgan
Crypto5 months ago

Alibaba plans AI subscriptions, stablecoin-like payments with JPMorgan

  Key Points Alibaba plans to use “tokenization” of payments for cross-border transactions in its business-to-business arm. Kuo Zhang, president...

Abraham Lincoln set off an education revolution in 1862 with the Land Grant Act. We need the same thing today for AI Abraham Lincoln set off an education revolution in 1862 with the Land Grant Act. We need the same thing today for AI
Crypto5 months ago

UK borrowing costs spike on report government to scrap plans to raise income tax

    Rachel Reeves, U.K. chancellor of the exchequer, delivers a speech in London, UK, on Tuesday, Nov. 4, 2025. Bloomberg...

An Indonesian Unicorn's Vision For Digital Payments An Indonesian Unicorn's Vision For Digital Payments
Crypto5 months ago

Trump’s threatened the BBC with a $1B lawsuit: Here’s what’s going on

    US President Donald Trump speaks to reporters as he arrives at Palm Beach International Airport on Oct. 31,...

We're downgrading a portfolio stock. Plus, what's causing the market's rally We're downgrading a portfolio stock. Plus, what's causing the market's rally
Crypto5 months ago

UBS’s picks for global returns next year

  Investors looking for global diversification opportunities should look to a specific subset of stocks in Europe, according to UBS...

Nvidia will soar nearly 75%, says Loop Capital Nvidia will soar nearly 75%, says Loop Capital
News5 months ago

AI companies admit they’re worried about a bubble

    Eakarat Buanoi | Istock | Getty Images LISBON, Portugal — Top tech executives told CNBC they’re concerned about...

CEO Southeast Asia's top bank DBS says AI adoption already paying off CEO Southeast Asia's top bank DBS says AI adoption already paying off
News5 months ago

CEO Southeast Asia’s top bank DBS says AI adoption already paying off

Tan Su Shan, deputy chief executive officer and managing director of institutional banking at DBS Group Holdings Ltd., speaks during...

China's economic slowdown deepens in October as housing slump worsens and investments shrink more than expected China's economic slowdown deepens in October as housing slump worsens and investments shrink more than expected
News5 months ago

China’s economic slowdown deepens in October as housing slump worsens and investments shrink more than expected

CHENGDU, CHINA – OCTOBER 18: People walk past the Louis Vuitton store at Taikoo Li, a high-end shopping area that...

U.S. to remove tariffs on some products from Ecuador, Argentina, Guatemala and El Salvador U.S. to remove tariffs on some products from Ecuador, Argentina, Guatemala and El Salvador
News5 months ago

U.S. to remove tariffs on some products from Ecuador, Argentina, Guatemala and El Salvador

The United States said Thursday it will remove tariffs on some foods and other imports from Argentina, Ecuador, Guatemala and...

Advertisement