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U.S. Senators Tina Smith, Mike Rounds Reintroduce Bipartisan Rural Housing Legislation
WASHINGTON – Today, U.S. Senators Tina Smith (D-MN) and Mike Rounds (R-SD) reintroduced their bipartisan legislation to improve federal rural housing programs and strengthen the supply of affordable housing in rural America. The legislation would represent the most significant Rural Housing Service reforms in decades . The Rural Housing Service expands housing opportunities by offering loans, grants, and rental assistance to rural communities across the country. Rural parts of the country saw only a 1.7% increase in the number of housing units between 2010 and 2020, with almost half of states seeing a decrease in the number of rural units. According to the Minnesota Housing Partnership, every county in Minnesota has a shortage of affordable and available rental homes for extremely low-income households. 79% of counties have a shortage that exceeds 100 homes, and 31% have a shortage exceeding 500 homes. Additionally, many properties financed by the Rural Housing Service decades ago — which often can be the only affordable housing option for people living in rural communities — are now at risk of being permanently lost. “Without a safe, affordable place to live, nothing else in your life works. Not your job, not your education, not your health,” said Senator Smith. “We know that the housing crisis is hurting communities across the country, and the problem is particularly acute in rural places. This legislation is the direct result of bipartisan hearings and conversations with stakeholders who helped identify ways we can make federal rural housing programs work better for people struggling to find a safe, affordable place to live.” “Improving homeownership opportunities, particularly in rural areas, is critical
U.S. Senator Tina Smith and U.S. Representatives Budzinski, Nunn and Courtney Introduce Bipartisan Bill to Help New Farmers Gain Access to Land
ST. PAUL — Today, U.S. Senator Tina Smith (D-MN) and Reps. Nikki Budzinski (D-IL), Zach Nunn (R-IA), and Joe Courtney (D-CT) introduced the New Producer Economic Security Act, a bipartisan bill to help bring the next generation into family farming. The bill addresses the issue of Minnesota’s aging farmer and rancher population by giving new farmers and ranchers the tools they need to succeed through grants, financial aid, and training. It ensures that the support goes where it is needed most. “The average age of a producer in the United States is 58, and in Minnesota it’s 57. To keep Minnesota’s agriculture economy thriving, we need to invest in the next generation of farmers,” said Senator Smith. “This is a matter of national security, food security, and the strength and vitality of rural America. This legislation would help remove barriers for new and beginning farmers as they try to start up their businesses.” The bill establishes a pilot program within the Farm Service Agency (FSA) to increase access to land, capital, and markets for new and beginning farmers in Minnesota. The program would help secure the domestic food system and strengthen Minnesota’s farm workforce by giving the next generation of farmers the tools they need to succeed. The bill is a meaningful opportunity to create lasting policy solutions to the out-of-reach opportunities for new and beginning family farms, ultimately jeopardizing our country’s future. “As a young, beginning farmer, I know all too well that the next generation of producers face significant barriers in accessing the land, capital, and markets we need
Klobuchar, Smith, Grassley Statements on Passage of Bipartisan Legislation to Rename Federal Building in Minneapolis After Senator Paul Wellstone
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN), Tina Smith (D-MN) and Chuck Grassley (R-IA) released the statements below on the House passage of their bipartisan legislation to rename the Federal Building in Minneapolis the “Paul D. Wellstone Federal Building,” in honor of the legacy of the late Senator Paul Wellstone (D-MN). The bill passed the Senate unanimously earlier this month and now heads to the President’s desk to be signed into law. “From his passionate advocacy for better mental health care to his leadership on civil rights, Paul Wellstone showed that public service is really about improving people’s lives,” said
U.S. Senator Tina Smith on the Arrest of Sam Bankman-Fried
WASHINGTON, D.C. [12/13/22] — Today, U.S. Senator Tina Smith (D-Minn.) released the following statement in response to the arrest and indictment of Sam Bankman-Fried: “In this country, people are free to invest or bet their money however they want to. But they deserve to know that the market is fair and the rules protect them from bad actors, so they aren’t getting ripped off. “Looking at the charges brought against Sam Bankman-Fried, it’s hard not to conclude that he and his crypto organizations ran roughshod over the market rules protecting consumers. That’s flatly wrong and he needs to answer for what
Senators Klobuchar, Smith, and Representative Craig Announce Deadline Extension for Enrollment in 2023 Dairy Margin Coverage Program
WASHINGTON, D.C. [12/12/22] — U.S. Senators Amy Klobuchar, Tina Smith, and U.S. Representative Angie Craig (all D-MN) announced that the deadline for eligible farmers to enroll in the Dairy Margin Coverage (DMC) and Supplemental Dairy Margin Coverage (SDMC) programs has been extended. Eligible producers will now have until January 31, 2023 to enroll in the program. These programs help dairy producers manage the volatility of milk and feed price disparities. “The Dairy Margin Coverage program helps provide Minnesota’s dairy farmers with important stability and risk management tools that benefit our rural communities,” said Klobuchar. “This extended sign-up period will allow
Senators Smith, Warren Ask Key Regulators About Banking System’s Exposure to Crypto Risks after FTX Crash
Washington, D.C. – U.S. Senators Tina Smith (D-Minn.) and Elizabeth Warren (D-Mass.), members of the Senate Banking, Housing, and Urban Affairs Committee, sent letters to three key banking regulators raising concerns about the ties between the banking industry and crypto firms following FTX’s bankruptcy. The senators are asking each regulator, the Federal Reserve (Fed), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC), how they assess the banking system’s exposure to crypto risks. “(I)t appears that crypto firms may have closer ties to the banking system than previously understood,” wrote the senators. “Banks’
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