House Clears Water Resources Bill Benefitting Lake St. Clair

On April 19, the House of Representatives overwhelmingly approved legislation [H.R. 1495, the "Water Resources Development Act"] to upgrade and modernize our nation's water and environmental infrastructure.  The House approved the measure 394 to 25.  H.R. 1495 included a project requested by Rep. Levin to provide federal funds to implement restoration projects in Lake St. Clair.  In his Floor remarks, Rep. Levin said, "In the past, Lake St. Clair has been described as 'the forgotten lake.'  No longer.  Today, many of my constituents refer to Lake St. Clair as the 'Heart of the Great Lakes.'  We need to protect and restore it."  The U.S. Senate is expected to take up this legislation in the near future.  For additional information, click here.

Lawmakers Mourn Virginia Tech Victims

On April 18, the House voted 421 to 0 to adopt a resolution [H.Res. 306] offering condolences to the victims and their families regarding the horrific violence at Virginia Tech in Blacksburg, Virginia, along with the students, faculty, and staff who have been affected by the tragic events that occurred there. 

House Debates Bill to Give Shareholders a Vote on CEO Pay

On April 19, the House approved H.R. 1257, the "Shareholder Vote on Executive Compensation Act."  The vote was 269 to 134.  The disparity between workers and executives has grown significantly in recent years; further, excessive executive pay and 'golden parachute' retirement packages have a significant impact on company profits and shareholder returns.  For example, Home Depot CEO Robert Nardelli left with a $210 million separation package, after a six-year tenure in which Home Depot's stock price fell 7.9 percent.  H.R. 1257 does not cap, limit or change any executive's compensation.  The legislation simply would require public companies to include in their annual proxies a non-binding advisory shareholder vote on their executive pay plans.  Speaking in favor of the bill, Rep. Levin said,

"What are middle-class families who are struggling with the rising costs of health care and higher education to think when they read about CEOs that are given tens and even hundreds of millions of dollars to leave companies whose stock price has fallen precipitously?  These executives are not being rewarded for their performance; they are apparently being rewarded for squandering billions of dollars of shareholder value....  Corporations do not exist to serve the interests of management, they exist to serve the interest of their owners."

Click here to read more.

House Adopts Taxpayer Protection Act

On April 17, the House approved a bipartisan bill [H.R. 1677, the "Taxpayer Protection Act"] to provide taxpayers with stronger protections from identity theft and tax fraud.  H.R. 1677 requires the IRS, in the course of a tax fraud investigation, to notify a taxpayer that there may have been unauthorized use of the taxpayer's identity.  The legislation also cracks down on misleading websites that seek to get personal information by imitating the IRS.  Speaking in support of H.R. 1677, Rep. Levin said, "Identity theft is a large and growing problem in our society, and unfortunately, a lack of vigilance on the part of the IRS has contributed to that problem.  One criminal who testified before the Senate Finance Committee last week detailed how he stole $1.1 million from the Treasury by using stolen identities to claim fraudulent refunds.  While this individual is rightly serving time in prison, we must act to prevent such crimes in the future."  For more information, click here.

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