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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. Senators Smith, Lummis Defend Homeowners Against Predatory Home Buyers
WASHINGTON. D.C. – U.S. Senators Tina Smith (D-MN) and Cynthia Lummis (R-WY) sent a letter to the National Association of Attorneys General recommending that state attorneys general take steps to protect homeowners from predatory home-buying practices. Senators Smith and Lummis were concerned by allegations that some franchises of HomeVestors of America, commonly recognized by their advertising catchphrase, “We Buy Ugly Houses,” were targeting elderly and ill homeowners. “Home equity represents more than a quarter of all household wealth in our country and we are deeply troubled by schemes that are all too eager to pilfer it,” wrote the Senators. “We
Senator Tina Smith Continues Fight to Improve Mental Health Services for Students
WASHINGTON, D.C. [6.9.23] – Today, U.S. Senator Tina Smith (D-MN) continued her fight to improve mental health access for students by reintroducing legislation to strengthen school-based mental health services for students in kindergarten through 12th grade. The Mental Health Services for Students Act would help schools partner with local mental health providers to establish on-site mental health services for students. It would also provide training for school personnel on how to recognize, assist and refer students who may need mental health support. The legislation is co-led by Senator Chris Murphy (D-CT) and cosponsored by Senators Sheldon Whitehouse (D-RI), Catherine Cortez
Senator Smith, Colleagues Introduce Bipartisan Bill to Expand Child Care in Rural Communities
WASHINGTON, D.C. – Today, U.S. Senator Tina Smith (D-MN) joined Senators Sherrod Brown (D-OH), Roger Marshall (R-KS), and Mike Braun (R-IN) to introduce bipartisan, bicameral legislation to improve the availability and quality – and lower the cost – of childcare in agricultural and rural communities. A companion version of the Expanding Childcare in Rural America (ECRA) Act of 2023 was introduced in the House of Representatives by U.S. Representatives Marie Gluesenkamp Perez (D-WA-3), Lori Chavez-DeRemer (R-OR-5), Tracey Mann (R-KS-1), and Yadira Caraveo (D-CO-8). “Access to childcare is essential, but for too many families living in rural places, it is out
Senators Klobuchar, Smith Announce Significant Investment in Grand Rapids Transit Project
WASHINGTON – U.S. Senators Amy Klobuchar and Tina Smith (both D-MN) announced over $9.3 million in federal funding to support a free, on-demand transit service in Grand Rapids, Minnesota. The investment will be used to expand the current goMARTI (Minnesota’s Autonomous Regional Transit Initiative) vehicle fleet with electric vehicles and automated driving systems (ADS). The expanded fleet of vehicles will be wheelchair accessible and will expand service to communities that lack access to reliable, convenient transportation. “Investments in our transportation systems are a down-payment on the long-term economic success of our state and ensure Minnesotans can safely and reliably get
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