Latest Releases
Sen. Smith Leads Bipartisan Legislation to Safeguard American Food Exports and Protect Farmers
WASHINGTON – U.S. Senators Tina Smith (D-MN), Mike Braun (R-IN), Roger Wicker (R-MS), and Chris Coons (D-DE), introduced bipartisan legislation to protect farmers in the event of animal disease outbreaks. The Safe American Food Exports (SAFE) Act would give the USDA clear authority to preemptively negotiate regionalization agreements for known animal disease threats, ultimately preventing unsafe agriculture exports from getting shipped around the globe and keeping trading markets open for American farmers with disease-free livestock. “I hear from Minnesota farmers all the time about the toll avian flu outbreaks have on families and the economy. Animal disease outbreaks can unnecessarily disrupt trade and hurt our exporting ability,” said Sen. Smith. “This bipartisan bill would allow the USDA to proactively negotiate regionalization agreements with our key trading partners. It’s a common-sense step that would help our farmers weather any future animal disease outbreaks.” “Indiana is a top ranked poultry-producing state, being first in the country for ducks, second for layer chickens and table eggs, and third for turkeys,” said Sen. Braun. “During the highly pathogenic avian influenza (HPAI) outbreak last year, our Hoosier poultry producers relied on trade regionalization agreements to ensure that their safe food products made it to market. Spending most of my life around the farm, I know just how devastating animal disease outbreaks can be. The SAFE Act will help farmers focus on animal health, rather than finding a market for their safe food products, by giving USDA the authority to negotiate proactive trade agreements.” “Poultry farmers across the
Senator Smith, Colleagues Call on Fed to Strengthen Rules for Banks with Assets Over $100 Billion
Washington, D.C. – U.S. Senators Tina Smith (D-Minn.), Elizabeth Warren (D-Mass.), Tammy Duckworth (D-Ill.), Richard Blumenthal (D-Conn.), Bernie Sanders (I-Vt.), Jack Reed (D-R.I.), Mazie Hirono (D-Hawaii), Ed Markey (D-Mass.), Angus King (I-Maine), Sheldon Whitehouse (D-R.I.), Chris Van Hollen (D-Md.), and Brian Schatz (D-Hawaii) wrote the Vice Chair for Supervision of the Federal Reserve (Fed) Michael Barr, calling on him to exercise the Fed’s authority to apply stronger regulation and supervision to banks with assets totaling $100 to $250 billion. “The fall of both SVB and Signature, the near-crash of First Republic, and the struggles of other regional banks shed new light on the systemic importance of banks with assets totaling between $100 and $250 billion,” wrote the senators. “In response to SVB’s and Signature Bank’s failures, the Department of Treasury, after consultation with the Fed and the Federal Deposit Insurance Corporation (FDIC), approved ‘systemic risk exceptions’ allowing the FDIC to fully compensate the banks’ depositors, including those holding deposits above the $250,000 FDIC insurance threshold. In making this determination, regulators acknowledged the systemic significance of banks of this size, and that their failure could have significant spillover effects on the broader banking system.” The 2018 Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA), which unwound Enhanced Prudential Standards for mid-sized banks, provided the Fed with the discretion to maintain stronger rules – including stronger requirements for capital, liquidity, stress testing, and resolution plans – to banks with assets between $100 and $250 billion. The Fed has largely failed to
Sen. Tina Smith’s Remarks on President Trump’s Nomination of Brett Kavanaugh to Serve as Supreme Court Justice
WASHINGTON, D.C. [07/09/18]—U.S. Senator Tina Smith (D-Minn.) took to the Supreme Court steps shortly after President Donald Trump announced Brett Kavanaugh as his nominee to fill the vacancy left by Supreme Court Justice Anthony Kennedy’s retirement. Sen. Smith joined fellow Senate colleagues, advocacy organizations, and groups to call for a Justice who will protect the rights of all Americans. “This is a pivotal moment for our country–the person who fills this seat long held by Justice Kennedy will shape the course of American democracy for decades,” said Sen. Smith. “I had hoped that the President would appoint a consensus Justice, a person
U.S. Sen. Tina Smith’s Staff Kicks Off “Health Care Cost Listening Tour”
WASHINGTON, D.C. [07/11/18]—U.S Sen. Tina Smith (D-Minn.) continued her push to make health care more affordable for Minnesotans by deploying her staff to kick off their statewide “Health Care Cost Listening Tour.” The listening sessions will include Minnesota residents, as well as health experts and care providers in discussions of how to make health care more affordable and accessible in Minnesota and across the country. “Without question, the number one issue I hear about most frequently from Minnesotans is the high price of health care,” said Sen. Smith. “Over the coming weeks, my staff will be traveling all over the state to
Sen. Tina Smith Pushes for Stronger Safeguards for Minnesotans Taking Out Expensive Private Student Loans
WASHINGTON [07/13/18]—U.S. Senator Tina Smith (D-Minn.) is pushing to make sure students in Minnesota and across the nation understand all of their options when it comes to taking out private loans to pay for school, which can often be deceptively risky and expensive, especially for inexperienced or first-time borrowers. The “Know Before You Owe Act of 2018” would require schools to provide information to prospective borrowers about federal loan eligibility and benefits before certifying a private loan. The bill would also require schools to confirm the student’s enrollment status and cost of attendance before the private student loan is approved. “The student
Sen. Tina Smith’s Statement on President Trump’s Remarks at Press Conference with Vladimir Putin
WASHINGTON [07/16/18]—U.S. Senator Tina Smith (D-Minn.) released the following statement on President Trump’s remarks while at a press conference with Russian leader Vladimir Putin: “The president’s press conference on his meeting with Vladimir Putin was nothing short of disgraceful. There is no question that Russia attacked our democracy in 2016 by interfering in the election, as our American intelligence community long ago concluded. When asked today to choose between our own country’s intelligence community and Vladimir Putin—the leader of a hostile foreign power—President Trump refused to choose, and instead blamed our own country. This is a shocking development when I
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