IRS chief: agency cuts would add $4 bln to deficit

WASHINGTON Tue Nov 8, 2011 4:26pm EST

WASHINGTON Nov 8 (Reuters) - Cutting the budget of the tax-collecting U.S. Internal Revenue Service, as proposed in Congress, could add $4 billion annually to the federal deficit, IRS Commissioner Douglas Shulman warned on Tuesday.

A cut of at least $525 million has been proposed and would have "serious consequences" that could reduce enforcement actions by 7 percent, Shulman said at a conference, adding that it "would add about $4 billion to the deficit."

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

Find your dream retirement town

Florida? Hawaii? Reuters has teamed up with Zillow to give you the power to customize a list of your best places to retire.  Video | Full Article