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. Senator Tina Smith’s Key Health Care Priorities Included in Larger, Bipartisan Health Care Costs Package
WASHINGTON, D.C. [05/23/2019]—A number of measures championed by U.S. Senator Tina Smith (D-Minn.) were included in the bipartisan package to address the rising cost of health care released today by the Senate Health Committee, including Sen. Smith’s efforts to help bring lower-cost insulin and generic drugs to market. Sen. Smith said both her bipartisan Protecting Access to Biosimilars Act and the Ensuring Innovation Act were added to the package, and her work with colleagues to increase price transparency by strengthening health care databases is also included. “The high costs of health care are jeopardizing the financial security of Americans and
U.S. Senators Tina Smith, Susan Collins Address Rise in Tick-Borne Diseases and Introduce Bipartisan Legislation to Target, Prevent, and Treat Lyme Disease
WASHINGTON, D.C. [05/23/19]—Today, U.S. Senators Tina Smith (D-Minn.) and Susan Collins (R-Maine), in a bipartisan effort, pushed for improving research and treatment efforts that address the sharp rise in tick-borne diseases. The Ticks: Identify, Control, and Knockout (TICK) Act, improves coordination between government response at the federal and local levels to tick borne diseases. “Minnesotans are eager to get outside after a long winter,” said Sen. Smith, a member of the Senate Health Committee. “Unfortunately, the number of Lyme disease cases in the state—and states across the country—is on the rise. Our bipartisan bill aims to reduce the number of
U.S. Senator Tina Smith, Rep. Sean Casten, Senate and House Colleagues Introduce Bipartisan Bill to Improve Nation’s Energy Storage Capabilities
WASHINGTON, D.C. [05/22/2019]—Today, U.S. Senator Tina Smith (D-Minn.) and Representative Sean Casten (D-Ill.)—along with a bipartisan group of Senate and House colleagues—introduced their Promoting Grid Storage Act of 2019, which would boost research and development of cutting-edge technologies to increase energy storage capabilities for America’s electric grid and enable the expanded use of clean energy. In addition to Sen. Smith and Rep. Casten, the bill is also supported by Sens. Susan Collins (R-Maine), Senator Mazie Hirono (D-Hawaii), Tammy Duckworth (D-Ill.), Catherine Cortez Masto (D-Nev.), Debbie Stabenow (D-Mich.), Martin Heinrich (D-N.M.), Cory Gardner (R-Colo.), Maggie Hassan (D-N.H.), and Reps. Ben Ray
Smith, Portman Introduce Bipartisan Legislation to Improve Transparency and Safety of American Study Abroad Programs
WASHINGTON, D.C. [05/21/2019]–U.S. Senators Tina Smith (D-Minn.) and Rob Portman (R-Ohio) today introduced bipartisan legislation—the Ravi Thackurdeen Safe Students Study Abroad Act—to increase the amount of information available to students regarding the risks they may face when studying abroad. While studying abroad is an educationally enriching experience for many American students, too little information is currently available to them and their parents. Sens. Smith and Portman are calling for greater transparency, and the Ravi Thackurdeen Safe Students Study Abroad Act will require institutions of higher education that offer study abroad programs to issue biennial reports on safety incidents experienced by
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