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Senators Smith, Rounds Reintroduce Bipartisan Bill to Spur Economic Development in Underserved Communities
WASHINGTON – U.S. Senators Tina Smith (D-MN) and Mike Rounds (R-SD) reintroduced bipartisan legislation to jumpstart economic development in economically distressed areas and address disparities in access to capital for underserved communities. The bill would strengthen and expand Community Development Financial Institutions (CDFI), which play a critical role in bringing capital and financial services to a wide range of underserved communities – from urban areas to small towns and rural communities to Tribal lands. “Unequal access to capital and financial services is a key driver of economic disparity in rural areas, communities of color, and Indigenous communities,” said Sen. Smith. “This legislation will jumpstart economic development in these communities by expanding and enhancing a program with a track record of effective capital investment and community development.” Their legislation—the CDFI Bond Guarantee Program Improvement Act, named for Community Development Financial Institutions–will extend authorization of the CDFI Bond Guarantee Program, while making it more reliable and accessible to smaller CDFIs. This legislation will expand and improve a successful program that operates without a taxpayer subsidy and allows CDFIs to access long-term, stable funding. The CDFI Bond Guarantee Program was enacted in 2010 to provide long-term, low-cost capital to CDFIs, which use the funding for economic development activities in underserved communities. The program’s authorization lapsed in 2014, but it has been extended on a year-by-year basis in annual appropriations bills. Under current program rules, borrowers must have a loan size of at least $100 million – which means that the program can only
Senator Smith, Colleagues Introduce Legislation to Help Make College Textbooks More Affordable
WASHINGTON – Today, U.S. Senators Tina Smith (D-MN), Dick Durbin (D-IL), Angus King (I-ME), and Kyrsten Sinema (I-AZ), along with U.S. Representative Joe Neguse (D-CO-02) introduced bicameral legislation designed to help students manage costs by making high quality textbooks easily accessible to students, professors, and the public for free. The Affordable College Textbook Act would authorize a competitive grant program to support the creation of and expansion of open college textbooks—textbooks that are available under an open license, allowing professors, students, researchers, and others to freely access the materials. “Textbooks are a key part of a college education – but for too many students, their cost is exorbitant and a real strain on their budgets,” said Smith. “In Minnesota, we’ve seen how free, open access textbooks can make a huge difference and save students money—and I want more students to reap these benefits. This bill is a critical step in the effort to lower the cost of college for students.” “Students already are facing momentous barriers to obtaining a college education because of the rising costs of tuition. On top of this, students are expected to shell out additional dollars to purchase expensive, required textbooks for their coursework,” said Durbin. “Open textbooks are a tried and true way to save students money while ensuring they have access to quality instructional materials. I’m introducing the Affordable College Textbook Act again to support students pursuing higher education.” “Textbooks are a central part of a college education – but for students already struggling to
Klobuchar, Smith Urge Department of Health and Human Services (HHS) to Restore Full Federal Funding for MinnesotaCare
WASHINGTON- U.S. Senators Amy Klobuchar and Tina Smith strongly urged the Department of Health and Human Services (HHS) to restore the full amount of federal funding that has been cut from MinnesotaCare over the past year. Minnesota, New York, and HHS have recently reached an agreement about a lawsuit regarding cost-sharing reduction (CSR) payments. Under the agreement, HHS will develop a new system for providing federal funding for Basic Health Programs (BHP) like MinnesotaCare. In the letter to HHS Secretary Alex Azar and Centers for Medicare and Medicaid Services (CMS) Administrator Seema Verma, the senators called for full funding for
Sens. Tina Smith, Thom Tillis Lead Bipartisan Introduction of Bill to Support Health Care for “Atomic Veterans”
WASHINGTON, D.C. [05/11/18]—U.S. Senators Tina Smith and Thom Tillis (R-N.C.) have introduced a bipartisan measure to support health care benefits for “Atomic Veterans” who were exposed to harmful radiation when they cleaned up nuclear testing sites during the late 1970s. The Mark Takai Atomic Veterans Healthcare Parity Act would allow veterans who participated in the cleanup of Enewetak Atoll on the Marshall Islands to receive the same healthcare and benefits given to other servicemembers who were involved in active nuclear tests. From 1946 to 1958 the U.S. military conducted more than 40 nuclear tests in the Islands, but the
Sen. Tina Smith’s Statement on President’s Prescription Drug Address
WASHINGTON, D.C. [05/11/18]—Today, U.S. Senator Tina Smith released the following statement after President Trump delivered an address focused on prescription drug prices. “When I meet with everyone from farmers, to small business owners, to families—they tell me about the high cost of health care, including the high cost of prescription drugs. I’ve heard from a young mother whose cancer medications cost $20,000 a month, and from seniors in Minnesota who are forced to choose between food and medicine. This is just wrong,” said Sen. Smith. “Today, the President said we need to bring down prescription drug prices and address ‘pay-for-delay’—the Big Pharma
Sen. Tina Smith Helps Introduce Bill to Make Sure Veteran, Minority, and Immigrant Farmers Have Access to USDA Services
WASHINGTON, D.C.—Today, U.S. Senator Tina Smith helped introduce legislation to make sure producers from diverse backgrounds—including veteran and immigrant farmers—are able to access services through a vital Department of Agriculture (USDA) program. The Assist Socially Disadvantaged and Veteran Farmers and Ranchers Act of 2018 would ensure the USDA’s Outreach to Socially Disadvantaged and Veteran Farmers and Ranchers Program continues through the end of the current Farm Bill, and would strengthen the program by making it a more efficient resource for veteran, minority population, and immigrant farmers and ranchers. You can learn more about the bill and access a list of supporting organizations here. “We
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