March 2012 Newsletter

Issues Update

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

March 2012 newsletterThe 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.

Read the press release on the amendment's passage »

Read Sen. Levin's Senate floor statement on the bill »

Tax loophole helps Facebook, hurts ordinary taxpayers

Facebook floor speech - newsletter photoSen. 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.

Read Sen. Levin's floor statement on Facebook and the stock option loophole »

Read Sen. Levin's newspaper column »

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