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. Smith Presses to Enhance Nation’s Energy Storage Capabilities
WASHINGTON D.C. [08/24/18]— U.S. Senator Tina Smith (D-Minn.) said legislation she is introducing would significantly increase America’s energy storage capabilities and help expand the role that renewable energies like wind and solar play in the nation’s energy portfolio. “Expanding the nation’s energy storage capabilities will not only help expand use of renewables like wind and solar energy but will contribute to our nation’s energy and economic security,” said Sen. Smith. “This bill will help to significantly improve our nation’s efforts to store energy, and jump start energy storage research and the deployment of energy storage technologies.” Sen. Smith’s “Advancing Grid Storage Act” would authorize $500 million over
Sen. Tina Smith Introduces Comprehensive Bill To Address A Top Minnesota Issue: Skyrocketing Prescription Drug Prices
WASHINGTON D.C. [09/05/18]—U.S. Sen. Tina Smith (D-Minn.) said today that for far too long the health and financial well-being of families in Minnesota and across the country has been harmed by the skyrocketing price of prescription drugs, and she introduced legislation—which is also supported by Minnesota Senator Amy Klobuchar—designed to hold large pharmaceutical companies accountable for high prices and bring down costs for both consumers and taxpayers. Sen. Smith, a member of the Senate Health Committee, said her measure will increase transparency for drug companies that are setting exorbitant prices, end the restriction that prevents the federal Medicare program from
Sen. Tina Smith Blasts DeVos Proposal That Would Leave Minnesota Students at Hands of Predatory Career Training Programs
WASHINGTON, D.C. [09/13/18]—Today, U.S. Senator Tina Smith (D-Minn.)—a member of the Senate Education Committee—stood up for students in Minnesota and across the country by calling on Education Secretary Betsy DeVos to withdraw a proposal aimed at striking down a rule to protect students and borrowers from career training programs that leave students saddled with debt and poor job prospects. Sen. Smith said students in Minnesota and across the country deserve to know which career training programs are successful, and which programs have a history of providing a low-quality education and overly-expensive degrees that have little value on the job market. Under
U.S. Senator Tina Smith Says Senate Passage of Bipartisan Opioids Legislation Will Give Minnesota, Nation Tools to Combat Crisis
WASHINGTON, D.C. [09/17/18]—U.S. Senator Tina Smith (D-Minn.) said the bipartisan opioids legislation that passed the Senate today—which Sen. Smith helped write—will give Minnesota and the nation important tools to combat an epidemic that has already claimed too many lives and decimated too many families. Sen. Smith, a member of the Senate Health Committee, said the package invests in long-term prevention, treatment, and recovery efforts. It also includes her measure to help bring mental health professionals into schools and community-based organizations in order to better reach families who need these vital services. “The opioid epidemic is urgent. It hurts families across
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