10/12/2011 01:48 pm ET Updated Dec 12, 2011

Proposed IRS Cuts Would Mean Loss Of $4 Billion In Revenue

The Internal Revenue Service would face a "devastating" loss of $4 billion in revenue collected each year if proposed cuts of up to $600 million are made from the agency's budget, Colleen Kelley, president of the National Treasury Employees Union warned Wednesday.

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