April 2012 Newsletter

Issues Update

In recent weeks, Sen. Levin has led the fight against excessive speculation that is pushing up the price of gas; called on the Air Force to reconsider their proposal in the FY 2013 defense budget to make disproportionate cuts in the force structure of the Air National Guard; and sought changes in a flawed bill that could endanger the ability of U.S. businesses to attract the capital they need to create jobs.

Market speculation raises prices at the pump

April 2012 newsletter - PSI hearingHigh gas prices are threatening to dampen America's economic recovery, hurting families and businesses. The Permanent Subcommittee on Investigations, which Sen. Levin chairs, has found that excessive speculation - investments in oil not by producers or users, but by those seeking to profit on price changes - is a significant contributor to the volatility of oil prices. Sen. Levin has been speaking out on the need to protect Michigan families and businesses from the damage done by oil speculators.

Read Sen. Levin's Senate floor speech on the need to fight oil speculators »

Read his newspaper column on oil speculation »

Read about his effort, with 18 other senators, to ensure that limits on oil speculation that were included in the 2009 Wall Street reform bill take effect »

Read his Senate floor speech in support of legislation to end tax subsidies for highly profitable oil and gas companies »

Sen. Levin fights to protect our National Guard

April 2012 newsletter - SelfridgeBudget cuts proposed by the Air Force would fall hardest on the Air National Guard, including Michigan National Guard units. As chairman of the Armed Services Committee, Sen. Levin has questioned the logic of the Air Force's proposals, urged Air Force officials to work with the Council of Governors to develop a more balanced approach, and gotten them to agree not to implement their plans until Congress has a chance to review them.

Read the press release on Sen. Levin pressing Air Force officials on their plans »

Read his opening statement from the Armed Services Committee hearing »

Sen. Levin leads fight against misnamed "jobs bill"

Newsletter Floor StatementSen. Levin helped lead the fight in the Senate against legislation that, while promoted as a way to help boost job creation, will actually put jobs at risk by making financial markets more risky. The legislation eliminates important investor protections that give investors the confidence to put their money to work helping the economy grow.  "By making our financial markets less dependable, less transparent, less honest and less accountable, this legislation threatens to discourage investors from participating in capital markets.That damage would make it harder, not easier, for companies to attract the capital they need to grow and to hire new workers," Sen. Levin said.

Read Sen. Levin's Senate floor speech on a proposal to repair the flawed bill - March 15 »

Read his Senate floor speeches laying out the flaws in the bill:

March 20 »

March 21 »

March 22 »

More news from Senator Levin

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