Latest Releases
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.”
Klobuchar, Smith Announce Federal Funding to Improve Lincoln Pipestone Rural Water System
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) announced a $2,194,000 U.S. Department of Agriculture (USDA) Rural Development grant and a $26,179,000 loan to make improvements to the Lincoln Pipestone Rural Water system that services the counties of Lyon, Lac qui Parle, Lincoln, Yellow Medicine, and Redwood. This project will construct a new water source and water treatment plant, and make improvements to the current water treatment plant to ensure the growing regional water demand is met. “The Lincoln Pipestone Rural Water System currently serves five counties, and the demand for water is growing,” said Klobuchar. “With these federal
U.S. Senators Tina Smith, Thom Tillis, Cory Booker and Todd Young Introduce Resolution Honoring 100th Anniversary of the National League of Cities
WASHINGTON – Today, U.S. Senators Tina Smith (D-MN), Thom Tillis (R-NC), Cory Booker (D-NJ) and Todd Young (R-IN) introduced a resolution honoring the 100th anniversary of the National League of Cities. The National League of Cities is the oldest and largest organization of municipal governments in the United States, representing over 19,000 cities, towns, and villages and more than 218,000,000 residents. Senators Smith, Tillis and Booker served in local government before coming to Congress. “I always say that the best ideas come from those closest to the work, and local governments exemplify that best,” said Senator Smith. “As former Chief of Staff to the Mayor
U.S. SENATOR TINA SMITH ANNOUNCES ABORTION CLINIC DIRECTOR TAMMI KROMENAKER AS STATE OF THE UNION GUEST
WASHINGTON – Today, U.S. Senator Tina Smith (D-Minn.) announced that Tammi Kromenaker, the Clinic Director of the Red River Women’s Clinic in Moorhead, MN, will be her guest at the President’s State of the Union Address on Thursday, March 7th in Washington, D.C. The Red River Women’s Clinic spent nearly 25 years in Fargo, where it was North Dakota’s sole abortion provider for most of that time. When the Supreme Court overturned Roe v. Wade with the Dobbs decision in 2022, the Republican Governor of North Dakota enacted one of the most restrictive abortion bans in the country. To continue serving patients in desperate need of
U.S. Senator Tina Smith and Congresswoman Nydia Velázquez Introduce Legislation to Protect Survivors of Intimate Partner Violence from Economic Abuse
[WASHINGTON, DC] – Today, Senator Tina Smith (D-MN) and Congresswoman Nydia M. Velázquez (D-NY) introduced the Survivor Financial Safety and Inclusion Working Group Act, a bill aimed at increasing support for survivors of intimate partner violence within the financial system. The bill would create an interagency working group comprised of the federal financial regulators and relevant stakeholders, including a representative of historically underserved communities. The working group would be tasked with collecting data on the impacts of economic abuse of survivors carried out through regulated financial institutions. The working group would also provide recommendations on how Congress and federal regulators can help financial institutions
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