Congressman Sander Levin

Revitalizing Michigan's Economy

These are tough times in Michigan. The current recession is the worst economic downturn in decades, and Michigan is ground zero. And, unlike past downturns in our state that were cyclical, we know that our economy is going through a transformation that requires new business development and different career paths. I am working every day to help revitalize our economy and help families during this downturn.

Weathering the Storm

Even as we work to revitalize Michigan’s economy, I believe it’s critical that we do everything we can to help Michigan’s workers and families weather the current economic storm. With an unemployment rate that has risen to above 15%, our state has the highest jobless rate in the country.

I have worked to pass extensions of Unemployment Insurance (UI) benefits, increase funding for food assistance, reduce the cost of health care, and support our retirees. I will continue fighting to make sure that even as we work on getting our economy back on track, we also focus on helping people bridge this economic downturn.

• More on Weathering the Storm

Recovery Act

I actively supported the American Recovery and Reinvestment Act, which was approved three weeks after President Obama’s inauguration. The Recovery Act represents a plan to jumpstart the economy, create jobs, help workers hurt by the economy, and make key investments to transform the economy.

For Michigan, the Recovery package should provide close to $20 billion to rebuild our roads, bridges and sewers, to support our schools, to invest in clean energy technologies, and to help the millions of Michigan families struggling to make ends meet in the current environment. Many of Michigan’s 3.7 million workers and their families have probably noticed that their paychecks are a little bigger as tax withholding has been reduced to implement the new Making Work Pay Tax Credit.

• 12th District Recovery Guide for Constituents
• More on the American Recovery and Reinvestment Act

Auto Industry

Our auto industry is being forced to restructure during both the worst domestic recession in decades and a global financial crisis. These are difficult days for our families and communities with the news of additional plant closings and job loss.

The positive news is that after months of countering the arguments of those who felt the companies should just be allowed to fail, the federal government is now making a $50 billion commitment to GM and Chrysler’s survival.

In additional to the direct loans to the companies, the federal government has taken steps to ensure that consumers can get loans to buy cars and have confidence their warranties will be honored, that dealers can get loans to finance their inventories, and that suppliers can be assured they will get paid for their parts.

• More on Auto Industry
  

Manufacturing

I also believe it is critical that the federal government do everything it can to support the manufacturing base of our economy. Our industrial sector has traditionally been a source of well paid jobs that helped create the middle class. Manufacturing is also at the heart of our economic competitiveness and national security though the creation of advanced technology. Manufacturing companies do about 70% of the private sector R&D in the United States. That’s why I am a strong supporter of funding for programs to support America’s manufacturers.

• More on Manufacturing
  

Financial Crisis

Congressional action was needed last fall to stabilize credit markets that were thrown into turmoil by the global financial crisis. What might have started as a Wall Street problem quickly became a full scale problem on Main Street -- for families, state and local governments, the auto industry and many types of small businesses. While some progress has been made I will continue to press for additional steps to ensure that Michigan families and business are able to access credit on reasonable terms.

• More on Financial Crisis
• Credit Card Reform

Housing

I have talked with families who have lost their homes to foreclosure and seen the consequences first hand in our communities. Addressing the foreclosure crisis that is devastating our neighborhoods goes hand-in-hand with restoring stability to the financial system and jumpstarting our economy.

• More on Housing
• How Can I Get Help ?

(Updated October 19, 2009)