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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 and address disparities in access to capital. 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 small businesses, homeowners and housing developers. Their legislation—the CDFI Bond Guarantee Program Improvement Act 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 at no cost to taxpayer and allows CDFIs to access long-term, stable funding. The CDFI Bond Guarantee Program was established 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 be used for relatively large projects. “Unequal access to capital and financial services is a key driver of economic disparity around Minnesota,” 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.” “Since 2010, the Community Development Financial Institutions (CDFI) Bond Guarantee Program has extended long-term, low-cost capital to underserved communities across America,” said Sen. Crapo. “By reducing the minimum dollar amount for each loan,
U.S. Senator Tina Smith’s Statement on Trump Administration’s Move to Abandon Minneapolis Police Reform
WASHINGTON, D.C — Today, U.S. Senator Tina Smith (D-Minn.) issued the following statement on the Department of Justice’s decision to withdraw the federal consent decree with the Minneapolis Police Department: “I am deeply disturbed by the Trump administration’s decision to abandon the federal consent decree with the Minneapolis Police Department. This decree was based on the Justice Department’s own investigation, which found a pattern of unconstitutional and discriminatory policing practices that have hurt our community, especially Black and Native American people and people with mental illness, for decades. “It’s especially painful that this decision comes on the eve of the fifth anniversary of George Floyd’s murder—the very tragedy that sparked this investigation and the urgent push for reform. I led the call for that federal civil rights investigation because Minnesotans deserve accountability and reform. Walking away from this agreement, after confirming the need for it, is unconscionable. “Thankfully, the City of Minneapolis and Minnesota state leaders continue to stand on the side of justice. I’m grateful that the state-negotiated consent decree remains in place to continue working toward meaningful reform. The Minneapolis Police Department has taken steps in the right direction and is committed to continuing that work even as the federal government walks away. “Every Minnesotan deserves to be safe in their homes and neighborhoods, and that safety must include freedom from unconstitutional and discriminatory policing. This work isn’t finished yet, and we will keep holding ourselves accountable.”
U.S. Senator Tina Smith Joins Colleagues to Prevent College Students from Being Billed For Textbooks Without Their Consent
WASHINGTON – U.S. Senator Tina Smith (D-MN) joined her colleagues Dick Durbin (D-IL), Angus King (I-ME), and Kyrsten Sinema (I-AZ) in sending a letter to the Secretary of Education Miguel Cardona urging him to finalize proposed changes that would make “Inclusive Access” (IA) and “Equitable Access” (EA) programs – models that allow institutions of higher education to automatically charge a student’s federal student aid for textbooks without a student’s consent – into an opt-in program, rather than an opt-out program. Currently, colleges and universities can partner with textbook publishers like McGraw Hill, Pearson, and Cengage to deliver textbooks digitally, charging students in the process through IA and EA programs. Although IA and EA
U.S. Senator Tina Smith Leads Efforts to Address the Rural EMS Crisis with Statewide Tour
MINNESOTA [4.16.24] – As access to emergency medical services continues to be a top issue for leaders in the Minnesota State Legislature, U.S. Senator Tina Smith (D-Minn.) has been active in working toward federal solutions to the crisis. She and her staff have held meetings across Minnesota, from Hibbing to Barnesville, Blackduck, and New Richland, where local EMS leaders conveyed that first responders are in dire financial straits. Senator Smith has been urging Congress to act on this crisis and is an original cosponsor of a bill to provide Medicare reimbursement for care provided by EMS when no transportation to
Klobuchar, Smith Secure Significant Federal Funding for Infrastructure Improvements Along I-94
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) announced that the U.S. Department of Transportation (USDOT) has awarded $13,736,000 in federal funding for the I-94 Blowing and Drifting Snow Control Project in West Central Minnesota. The project will install 24 miles of snow fence across 38 sites to address snow control along nearly 120 miles of I-94 between the cities of Moorhead and Alexandria. The project will reduce snow traps along the economically vital I-94 corridor, enhancing safety, minimizing winter maintenance, and boosting the reliability of the heavily traveled highway. “I-94 is one of the most heavily
Klobuchar, Smith Secure Significant Federal Funding for Infrastructure Improvements to Highway 11 Along the Rainy River
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) announced that the U.S. Department of Transportation (USDOT) has awarded $2,560,000 in federal funding for the City of Loman’s Highway 11 Rainy River Slide Realignment and Resiliency Project. The project addresses two critical slope failures that threaten to close portions of Highway 11 along the Rainy River. The project will realign 1.2 miles of the highway about 150 feet to the west, removing the roadway from the slide areas and completing work to stabilize the slopes. “Highway 11 is a vital part of Northern Minnesota’s transportation system,” said Klobuchar. “With
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