Trump's 'attack' on the IRS could cost the government $1 trillion, former Treasury Secretary says

Former Treasury Secretary Lawrence Summers told Bloomberg Television's Wall Street Week that Donald Trump's "attack" on the IRS could cost the government $1 trillion.

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• Ex-Treasury Secretary Larry Summers said Trump's IRS cuts could cost the government $1 trillion.
• A Yale economist told BI that his estimate is conservative, and actual losses could top $2 trillion.
• Trump has ordered sweeping cuts at the IRS to increase "efficiency and effectiveness" at the agency.