Latest Releases
U.S. Senators Tina Smith, Cynthia Lummis Introduce Bipartisan Legislation to Protect Prospective Homebuyers from Predatory Financing Agreements
WASHINGTON, D.C. – Today, U.S. Senators Tina Smith (D-MN) and Cynthia Lummis (R-WY) introduced the Preserving Pathways to Homeownership Act, bipartisan legislation to establish basic protections for consumers who seek to purchase a home using a land contract, or contract for deed. Land contracts are an alternative form of seller financing for real estate transactions, often marketed as a way for people who can’t get a conventional mortgage to realize the dream of owning a home. However, land contracts can lack many of the consumer protections available in mortgage lending: full disclosure of costs and fees, protections if a homeowner misses payments or falls on hard times, and protections in the case of fraud. Unscrupulous sellers have used these arrangements to take advantage of unsuspecting buyers. They design the land contract to fail and move to evict when the buyer inevitably breaches it. Buyers typically lose their home and everything they’ve invested in it, and the seller can repeat this process with other buyers. It is estimated that across the country, more than 8 million homes have been sold with land contracts, underscoring the widespread nature of this issue. “Without a safe, decent place to call home, nothing in your life works – not your job, your health, your education, or your family. It is appalling that some Minnesota families trying to pursue the dream of home ownership, who are struggling to receive traditional mortgages, whether due to their credit rating, or because the tenets of their faith preclude them from paying and profiting off
The Affordable Housing and Homeownership Protection Act Would Tackle Housing Crisis by Creating Millions More Homes and Helping Main Street Compete with Wall Street
WASHINGTON, DC – As the nation’s housing shortage pushes home prices and rents to historic levels, a new Senate bill would provide tens of billions of dollars to help create millions of new homes for low-income Americans. U.S. Senators Tina Smith (D-MN), Jack Reed (D-RI)and Tammy Baldwin (D-WI) are teaming up with several colleagues to introduce the Affordable Housing and Homeownership Protection Act (S. 3673). This bill would generate up to $50 billion over ten years to help build and preserve approximately 3 million affordable housing units nationwide. The bill would be fully paid for through a transfer tax on large investors who profit by purchasing sixteen single-family homes or more. Driven by a shortage of as many as 6.8 million homes nationwide, homes prices have surged 39% and rents 31% over the last four years, according to the National Association of Realtors and Zillow. Higher rents and fewer opportunities for homeownership are devastating for millions of families. As housing costs skyrocket, more households are priced out of homeownership, while renters have less to spend on food, clothing, and other everyday necessities. Low-income Americans are particularly strained – the National Low Income Housing Coalition estimates 73% of extremely low-income households spend more than half their income on housing. Unsurprisingly, homelessness has risen in line with housing prices and is up 15% since 2019. Unfortunately, federal investments in low-income housing are insufficient to solve this affordability crisis. Indeed, researchers at Harvard University found that the three largest federal housing programs serve nearly
U.S. Senators Smith, Markey, Booker & Harris to Introduce Legislation to Make Juneteenth a Federal Holiday
WASHINGTON, D.C. [06/19/20]—Today, U.S. Senators Tina Smith (D-Minn.), Edward J. Markey (D-Mass.), Cory Booker (D-N.J.) and Kamala D. Harris (D-Calif.) announced they will introduce the Juneteenth National Independence Day Act, which would designate Juneteenth as a federal holiday. “Juneteenth” is observed on June 19, and it commemorates the end of slavery in the United States. The senators’ legislation also calls for establishing a Juneteenth Federal Holiday Commission to encourage ceremonies and activities in celebration of the holiday throughout the United States. On June 19, 1865, in Galveston, Texas, Major General Gordon Granger issued General Order No. 3, which announced that, in
Brown, Feinstein, Smith Lead Senate Dems in Introducing Resolution Recognizing June as LGBTQ Pride Month
WASHINGTON, D.C. – Today, U.S. Senators Sherrod Brown (D-OH), Dianne Feinstein (D-CA), and Tina Smith (D-MN) led all Senate Democrats in introducing a Senate resolution recognizing June as LGBTQ Pride Month. The resolution highlights the contributions LGBTQ individuals have made to American society, notes several major milestones in the fight for equal treatment of LGBTQ Americans and resolves to continue efforts to achieve full equality for LGBTQ individuals. The resolution also recognizes how the coronavirus (COVID-19) pandemic compounds the systemic inequality that LGBTQ people face in the healthcare, employment, and housing systems in the United States, leading to a disparate
Cassidy, Smith, Sullivan, Jones Introduce ‘Enhancing Preparedness Through Telehealth Act’
WASHINGTON – U.S. Senators Bill Cassidy, M.D. (R-LA), Tina Smith (D-MN), Dan Sullivan (R-AK) and Doug Jones (D-AL) today introduced legislation that directs the Department of Health and Human Services (HHS) to inventory telehealth programs across the country to learn how telehealth can be used more effectively in future health emergencies. “Telehealth has been instrumental in connecting patients and health care professionals during Covid-19. It saves lives, allows doctors to spend more time with patients, and allows access to care for those who normally could not access. This bill examines what’s worked across the country so we can more effectively respond to future health emergencies,” said
U.S. Senator Tina Smith in Senate Floor Speech: “Pass the Justice in Policing Act”
WASHINGTON, D.C. [06/17/20]—Today, U.S. Senator Tina Smith (D-Minn.) delivered her second in a series of Senate floor speeches focused on finding solutions to address systemic racism and much-needed changes in policing. In her remarks, Sen. Smith highlighted the need to pass the Justice in Policing Act. You can access video of Sen. Smith’s remarks here. “The Senate needs to act now to take up and pass the Justice in Policing Act. I joined my colleagues, Senators Booker and Harris, in introducing this bill last week, and I am grateful for their strong leadership towards creating a more fair and equitable justice system,” said Sen. Smith
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