March 2012 Newsletter
Recently, Sen. Levin led a successful effort to pass legislation closing offshore tax loopholes; he spoke on the Senate floor about how another loophole could give a single company a $3 billion tax break; he pressed the Air Force and Coast Guard to justify planned changes at Michigan bases; he pushed for more information on Michigan postal closings; and he told a major foreign policy gathering that joint U.S.-Israel missile defenses can help the world prevent Iran from obtaining nuclear weapons.
Levin leads passage of amendment to close tax loopholes, cut deficit
The Senate approved an amendment by Sen. Levin and Sen. Kent Conrad of North Dakota giving the Treasury Department powerful new tools to crack down on those who use offshore tax havens to avoid paying taxes. The legislation would reduce the deficit by $900 million by allowing Treasury to take steps against foreign governments or banks that aid tax dodgers. Sen. Levin has long fought against offshore tax havens, which add to the deficit and to the tax burden that ordinary Americans must carry.
Tax loophole helps Facebook, hurts ordinary taxpayers
Sen. Levin continued his call for ending the stock option tax loophole, which results in ordinary taxpayers subsidizing the lucrative stock option grants corporations often use to pay their executives. On the Senate floor, he talked about how one company, Facebook, will use this loophole to claim a tax break of as much as $3 billion and avoid paying federal income taxes for as long as 20 years.
More news from Senator Levin
- Sen. Levin pressed Air Force leaders for more information on their justifications for reducing Air National Guard personnel in Michigan.
- He joined Sen. Debbie Stabenow in fighting to preserve U.S. Coast Goard lifesaving services in Muskegon and Traverse City.
- He told the Postmaster General to provide data used to justify the potential closings of postal facilities in Michigan.
- He joined Sen. Stabenow in welcoming a report that less Canadian trash is being imported into Michigan.
- He welcomed Senate adoption of a resolution calling for more progress on addressing harbor maintenance needs in Michigan and elsewhere.
- He told the American Israel Public Affairs Committee that, thanks to cooperation between the United States and Israel on missile defense, "Iran's missiles will not stop Israel or us from doing what we have to do to prevent them from succeeding" in building a nuclear weapon.
- He was honored by the Center for the National Interest with the group's Distinguished Service Award, and in accepting the award, issued a call for a more bipartisan national security debate.
- He welcomed an extension of middle-class tax relief and emergency unemployment benefits.
- He welcomed passage of an aviation policy bill that will preserve much-needed commercial air service to Michigan cities, create jobs and improve aviation safety and efficiency, and he joined Sen. Stabenow in praising a decision that will preserve direct air service between Lansing and Washington, D.C.
- He congratulated Rochester's Meadow Brook Hall, which was named a new National Historic Landmark.
- He opposed legislation that would have allowed insurance companies or employers to deny life-saving treatments and coverage to their employees.
- He chaired Senate Armed Services Committee hearings on U.S. policy toward Syria, on the Army's 2013 budget, on developments in U.S. Pacific Command and U.S. Transportation Command, on U.S. European Command and U.S. Africa Command and on U.S. Central Command and U.S. Special Operations Command.