June 2012 Newsletter
In recent weeks, Sen. Levin led the Senate Armed Services Committee to approval of legislation that would protect Air National Guard capabilities in Michigan and around the country; called on financial regulatory agencies to prevent the kind of risky trades that cost JPMorgan billions of dollars; supported legislation to boost availability of life-saving drugs and to make sure women aren't shortchanged in the workplace; and welcomed grants that will help educate Michigan students and redevelop former industrial sites in the state.
Sen. Levin's committee rejects Air National Guard cuts
Earlier this year, the Air Force proposed cuts to the Air National Guard that would have hit Michigan bases especially hard. The proposal was ill-conceived and unjustified. As chairman of the Senate Armed Services Committee, Sen. Levin led the committee in approving a National Defense Authorization Act for the coming fiscal year that rejects the proposed cuts and protects National Guard capabilities in Michigan and across the country.
Michigan needs Congress to close the JPMorgan Loophole
Recent news coverage of major losses at JPMorgan has renewed the focus on how risky business on Wall Street can affect the larger economy. Now that Michigan is bouncing back from the last financial crisis, we can't let another crisis sparked by risky bets on Wall Street put us all in danger. Sen. Levin fought hard during the debate over Wall Street reform for legislation to prevent risky bets by banks, and the JPMorgan story is a prime example of why regulators need to write and enforce tough rules to implement that legislation.
More news from Senator Levin
- Sen. Levin and Sen. John McCain released an Armed Services Committee investigative report on how a flood of counterfeit electronic parts, mostly from China, has entered the Defense Department supply system, threatening national security, endangering our troops and costing U.S. workers.
- He released a Memorial Day statement calling on the nation to reflect on the enormous sacrifices of our troops and their families.
- He and Sen. McCain released a statement calling on the Pakistani government to reverse a harsh prison sentence for a doctor who helped the United States track down Osama bin Laden.
- He issued a statement on the day of Facebook's initial public stock offering calling for the closing of a tax loophole that hurts taxpayers by giving the company billions of dollars in tax breaks.
- He supported passage of an FDA user fee bill to provide funding that will speed life-saving drugs to market and help prevent drug shortages.
- He welcomed $2.3 million in grants that will help Michigan communities clean up and redevelop contaminated former industrial sites.
- He welcomed more than $3 million in AmeriCorps grants across Michigan that will help improve educational opportunities, boost environmental protection and enhance disaster preparedness.
- He issued a Senate floor statement congratulating high school robotics teams from across Michigan and thanking a team from Macomb County for introducing him to the competition.
- He issued a Senate floor statement calling on fellow senators not to filibuster a bill designed to help ensure women get fair pay.