Bill Phelps holds degrees in economics and law from the University of Missouri. He began his career in public service, elected to the Missouri House of Representatives multiple times before serving as Lieutenant Governor of Missouri. Phelps transitioned to the private sector, later becoming a national spokesman for Americans for Fair Tax. His career highlights a blend of legislative experience and advocacy for economic policy reform.

Bill Phelps consistently advocates for a radical restructuring of the tax system, proposing a national sales tax to replace income tax, which reflects a highly localized approach to fiscal policy. His political career reveals an ideological agility, particularly in his unexpected alignment with opposing factions on environmental regulations, likely driven by a calculated effort to safeguard regional industrial interests. Phelps's rhetorical style emphasizes a clear break from traditional governance norms, as seen in his campaign to become Missouri's first full-time Lieutenant Governor, eschewing his legal career to dedicate himself fully to public service. This blend of fiscal radicalism and governance innovation makes Phelps a uniquely intriguing figure in American politics.