January 2012 Newsletter

Washington Update

Recently, Sen. Levin wrote that job growth and balanced deficit reduction are the two biggest priorities for 2012; issued a report finding that multinational corporations are dodging taxes on billions of dollars in funds that they hold in the United States; voted to prevent a tax increase on American working families; welcomed the Army's top officer to Southeast Michigan to discuss defense work happening in Michigan; fought for an important federal investment in science at Michigan State University; and laid out the facts on anti-terrorism provisions contained in new national security legislation.

Task for New Year:  More jobs, lower deficit

Construction photo - Jan 2012 newsletter"The past year has been an unusually challenging and stressful one for our nation and for Michigan. As we look forward to 2012, I'd like to share with you my thoughts about a tough year just completed and about the year to come. Twin challenges in 2011 - the need to grow the economy and to reduce the deficit - dominated 2011 and will demand our attention again this year."

Read Sen. Levin's newspaper column »

Corporations hold billions in U.S., avoid taxes

PSI hearing - newsletter Jan 2012Sen. Levin, as chairman of the Senate Permanent Subcommittee on Investigations, released a new report showing that billions of dollars that multinational corporations report as being held offshore for tax purposes are actually held in U.S. bank accounts and other assets. The data raised new questions about proposals to give companies a special tax break for money returned to the United States from overseas. Sen. Levin said these companies "are taking full advantage of the safety and security of the U.S. financial system to protect their money while paying no U.S. taxes on those funds to support the U.S. system."

Read the press release on the report »

Read the full report [PDF] »

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