Latest Releases
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
Klobuchar, Smith Announce Significant Federal Infrastructure Grant to Improve Highway 169
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) announced a $24.7 million federal grant for the US 169 Rural Safety and Mobility Interchange Project in Sherburne County, which will eliminate the signal-controlled intersection at County Road 4 and replace it with a grade-separated, hybrid diamond interchange. The current intersection has crash rates at nearly five times the state average and has been ranked the second most dangerous intersection in central Minnesota. This project will also reduce traffic congestion and accommodate anticipated growth on this important regional highway. In addition, the new interchange will have a multi-use trail for pedestrian and bike access. Funding for this project comes from the U.S. Department of Transportation’s INFRA (Nationally Significant Multimodal Freight & Highway Projects) grant program. “Highway 169’s signal-controlled intersection has been ranked as one of the most dangerous intersections in central Minnesota. Drivers who use this intersection every day deserve a safer alternative,” said Klobuchar. “This federal grant will make much-needed improvements to make the interchange secure for drivers and pedestrians.” “Revitalizing our infrastructure is about more than just fixing roadways and bridges; it’s about improving people’s lives, which is precisely what this project will do,” said Smith. “This intersection on Highway 169 is dangerous in its current form. Now, Minnesota has the federal investment to make this vital corridor safer for everyone.” INFRA grants can be used by communities across the country for multimodal freight and highway projects of national or regional significance to improve the safety, efficiency, and reliability of freight
As 2020 Budget Agreement is Passed, Key Bipartisan Measures U.S. Senator Tina Smith Authored & Championed Set to Become Law and Benefit Minnesotans
WASHINGTON, D.C. [12/18/19]—As Congress sends its final budget agreement for 2020 to the President’s desk, Minnesotans will benefit from several bipartisan measures U.S. Senator Tina Smith (D-Minn.) authored and championed. Sen. Smith’s bipartisan efforts to address health care costs and skyrocketing prescription drug prices, support rural housing, ramp up clean energy, expand disaster relief to hard-hit farmers and preserve electric cooperatives’ tax-exempt status while expanding much-needed broadband services in rural communities were all included in the final budget package expected to be signed into law in the coming days. “Here we are at the end of the year, and
U.S. Senators Tina Smith, Mike Braun Introduce Bipartisan Bill to Address Underhanded Big Pharma Tactic That Prevents Americans from Accessing Affordable Rx Drugs
WASHINGTON, D.C. [12/18/19]—Today, U.S. Senators Tina Smith (D-Minn.) and Mike Braun (R-Ind.) introduced legislation to bring low-cost generics to market, increase competition and help American families and seniors access their medications. The Expanding Access to Low-Cost Generics Act—which was the first standalone piece of legislation introduced by Sen. Smith—gets to the heart of a major concern families are facing right now: prescription drug prices. Nearly three in ten Americans report that they did not fill a prescription because it was too expensive. Anti-competitive behavior between brand name and generic drug manufacturers is delaying timely access to low-cost generic drugs. For example,
U.S. Senators Smith & Collins’ Bipartisan Bill to Combat Lyme and Other Tick-Borne Diseases Advances
WASHINGTON, D.C. [12/17/19]—U.S. Senators Tina Smith (D-Minn.) and Susan Collins (R-Maine) announced that their bipartisan bill to improve research, prevention, diagnostics, and treatment for tick-borne diseases was included in the government spending agreement released yesterday. Once passed by both the House and Senate, the bill will proceed to the President’s desk to be signed into law. The Kay Hagan Tick Act unites the effort to confront the alarming public health threat posed by Lyme disease and other tick-borne diseases, which have risen exponentially from approximately 30,000 cases in 2003 to an estimated 450,000 last year. Sens. Smith and Collins renamed the
U.S. Senators Smith & Tillis’ Bill to Extend Terrorism Risk Insurance Program Nears Passage by Senate, House
WASHINGTON, D.C. [12/16/2019]—Today, U.S. Senators Tina Smith (D-Minn.) and Thom Tillis (R-N.C.) secured inclusion of their bipartisan bill to extend the Terrorism Risk Insurance Program for seven years as part of a key government funding package expected to pass Congress this week. Last month, the Senate Banking Committee unanimously passed the legislation. During Committee consideration, Sen. Smith highlighted how the Terrorism Risk Insurance Act (TRIA) makes it possible for Minnesota to host major events, including the 2018 Super Bowl which generated more than $350 million for the state’s economy. The Terrorism Risk Insurance Program was established in response to the scarcity of affordable insurance coverage for terrorism risk in
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