Latest Releases
U.S. Senator Tina Smith’s Bipartisan Legislation to Extend Terrorism Risk Insurance, Support Housing Construction Passes Banking Committee
Roughly 60 percent of American businesses have terrorism risk insurance, which is critical to major construction projects WASHINGTON, D.C. – U.S. Senator Tina Smith’s bipartisan legislation to safeguard the availability of terrorism risk insurance coverage passed the Senate Banking Committee by a unanimous vote. Roughly 60 percent of American businesses have terrorism risk insurance, which could become unavailable without action by Congress. Sen. Smith (D-MN) leads the Terrorism Risk Insurance Program Reauthorization Act of 2026 alongside Senators Dave McCormick (R-PA), Ruben Gallego (D-AZ), and Thom Tillis (R-NC). Following the attacks on September 11, 2001, many insurance companies began excluding terrorism risks from commercial insurance policies, leaving businesses and industries without access to coverage. Since insurance is a precondition for commercial lending and real estate transactions, this gap in coverage threatened broad economic damage across real estate, construction, energy, transportation, and related industries. Congress responded by passing the Terrorism Risk Insurance Act of 2002 (TRIA), creating a federal reinsurance backstop to stabilize the private market and ensure that commercial policyholders could continue to obtain terrorism risk coverage. The private insurance market has relied on the TRIA backstop ever since. When TRIA briefly lapsed in December 2014, terrorism exclusions that insurers had pre-filed with state regulators took effect automatically, making terrorism coverage effectively unavailable across commercial policies nationwide. As a result, terrorism risk coverage was removed from policyholders immediately and without notice. Given that the current threat landscape remains elevated, allowing a similar lapse in terrorism coverage would expose policy holders to unnecessary financial risk and uncertainty. “Without
U.S. Senators Smith, Baldwin & Murphy Reintroduce Bill to Support Young Farmers, Forgive Student Loan Debt
WASHINGTON, D.C. – U.S. Senators Tina Smith (D-MN), Tammy Baldwin (D-WI) and Chris Murphy (D-CT) reintroduced the Student Loan Forgiveness for Farmers and Ranchers Act, legislation to create a loan forgiveness program for beginning farmers and ranchers, as well as veteran, women and minority farmers. Beginning farmers are considered those who have less than 10 years of experience operating a farm. The ag industry will soon see major shifts in farm ownership with more than one-third of American farmers being 65 years old or older. Student loan debt is among the largest obstacles America’s young farmers face, placing an enormous financial strain on beginner farmers and discouraging others from pursuing careers in the agricultural industry. Unforgiven student debt has a disproportionate impact on the farming industry. The Student Loan Forgiveness for Farmers and Ranchers Act would grant these farmers the support they need to invest in their farms and ranches and incentivize a new generation of farmers to enter the agricultural industry. “To keep Minnesota’s agriculture economy thriving, we need to continue to invest in the next generation of farmers as the average age of farmers keeps going up. There is more we can be doing to help future farmers fill their shoes,” said Sen. Smith. “Student debt is one of the most significant challenges our young farmers and ranchers face. This legislation would help encourage a younger, more diverse workforce and help more people start and stay in farming.” “Wisconsin farmers work hard to feed our families, support our rural economies, and
Klobuchar, Smith Urge USPS to Protect Mail Service During Wildfires Impacting Northern Minnesota
WASHINGTON — U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) are urging the United States Postal Service (USPS) Postmaster General to provide Minnesota with the necessary resources and support for postal operations impacted by wildfires. “We have heard from constituents who are concerned about mail delays resulting from the wildfires, and their ability to receive mail in the instance that they must evacuate,” wrote the Senators. “We urge you to ensure that Minnesota post offices receive the resources and support needed to maintain reliable service and communicate effectively with residents.” The full letter is available here and below. Dear Postmaster General Steiner: We
Senators Tina Smith, Jerry Moran Re-Introduce Legislation to Lower Cost of Oral Cancer Treatments
WASHINGTON, D.C. – U.S. Senators Tina Smith (D-MN) and Jerry Moran (R-KS) reintroduced bipartisan legislation to cut costs for cancer patients. Specifically, the bill would ensure cancer patients who are prescribed oral chemotherapy medication can access their drugs at comparable prices to other cancer treatments. Their Cancer Drug Parity Act requires health insurers to cover patient-administered (oral) cancer medications at the same cost-sharing level as traditional intravenous (IV) anticancer drug treatments, closing the coverage gap for federally regulated health plans. Over 2 million Americans are estimated to be diagnosed with cancer each year, and oral medications are a simpler, highly effective treatment option for many patients. According to a Susan G. Komen study released earlier this year, people receiving IV treatment reported a significantly greater negative impact on their daily lives than people receiving oral treatment, including having to
U.S. SENATOR TINA SMITH’S BIPARTISAN RURAL HOUSING SUPPLY LEGISLATION BECOMES LAW
9,000 homes in rural Minnesota will be saved by Smith’s bill MINNEAPOLIS, MN – U.S. Senator Tina Smith (D-MN), the top Democrat on the Senate Housing Subcommittee, announced her major bipartisan bill to preserve 400,000 rural homes across the country became law today. Smith’s Rural Housing Service Reform Act was included in a housing supply package that passed the House and Senate with veto-proof majorities. President Trump refused to sign the bill, but because he did not veto the legislation outright it automatically became law after 10 days of Presidential inaction. “Without a safe, affordable place to live, nothing in your life works. Not your health, not your job, and not your education,” said Senator Smith. “The lack of affordable, decent housing
U.S. Senators Smith, Klobuchar Secure Significant Federal Funding for Infrastructure Improvements in Anoka County
WASHINGTON, D.C. – U.S. Senators Tina Smith (D-MN) and Amy Klobuchar (D-MN) announced the U.S. Department of Transportation (USDOT) has awarded $18 million for the Minnesota State Highway 65 and Bunker Lake Boulevard Project. The grant, provided through the USDOT’s BUILD program, will be used to construct an interchange at the intersection of Minnesota State Highway 65 and Bunker Lake Boulevard. This project is part of a larger initiative to convert the highway into a freeway with grade-separated interchanges. “Highway 65 is a critical link between the Twin Cities and Greater Minnesota. But we’re seeing drivers intentionally avoiding the intersection
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