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 Secure Significant Federal Funding to Reconstruct Robert Street in St. Paul
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) announced that the U.S. Department of Transportation (USDOT) has awarded $25,000,000 for the Highway 3/Robert St. project planning in St. Paul. The grant, provided through USDOT’s RAISE program, will reconstruct approximately 1.5 miles of State Highway 3, including upgrading pedestrian crossings, improving sidewalks and trails, managing speed, expanding multimodal options, rehabilitating or replacing 100-year-old retaining walls/bridge, and improving transit access. “Robert Street is a critical route in St. Paul, used by drivers, bikers, and pedestrians,” said Klobuchar. “This federal support will make this highway safer and more efficient for all travelers.”
Klobuchar, Smith Secure Significant Federal Funding for Rehabilitating the Duluth Aerial Lift Bridge
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) announced that the U.S. Department of Transportation (USDOT) has awarded $11,200,000 for the Duluth Aerial Lift Bridge. The grant, provided through USDOT’s RAISE program, will rehabilitate this historic bridge, including surface preparation and repainting, lead abatement, replacement of deteriorated sections, miscellaneous structural steel repairs, repairs to spalled and delaminated concrete, and replacement of the bridge sidewalks. It builds on the $1,500,000 in total funding secured for the Aerial Lift Bridge’s pedestrian walkways by Senators Klobuchar and Smith in Fiscal Years 2022, 2023, and 2024. “The Duluth Aerial Lift Bridge is a
U.S. Senators Tina Smith, Amy Klobuchar Celebrate Historic Investment in State’s Largest Electric Co-Op for Affordable, Clean Energy
MINNEAPOLIS, MN – Today, U.S. Senators Tina Smith and Amy Klobuchar (both D-MN), celebrated historic funding for clean, reliable and low-cost energy for rural Minnesotans. Connexus Energy will use funding secured by Senators Smith and Klobuchar to produce over 280 megawatts of clean energy through hydro, solar and wind energy that will lower costs for its 146,000 members in rural Minnesota while supporting 400 jobs. With $170 million in funding, these projects will reduce climate pollution by more than 1.1 million tons of harmful, climate-warming emissions each year. Minnesota’s electric cooperatives provide electricity to nearly one-third of the state. Connexus is based in
U.S. Senators Tina Smith and Amy Klobuchar Announce Over $20 Million in Federal Funding to Preserve Affordable Housing
ST. PAUL, MINNESOTA – Today, U.S. Senators Tina Smith, Chair of the Senate Housing Subcommittee, and Amy Klobuchar (both D-MN) announced over $20 million in federal funding for the Minnesota Housing Partnership (MHP) to preserve affordable housing in manufactured housing communities and support Tribal communities across the Upper Midwest. This funding, awarded through the Preservation and Reinvestment Initiative for Community Enhancement (PRICE) grants, will ensure long-term housing affordability, infrastructure improvements, and community redevelopment for residents in historically underserved areas. The funding will support MHP’s D.R.E.A.M. Initiative (Driving Resilience, Equity, and Affordability through Manufactured Housing), benefiting six Resident-Owned Communities of manufactured housing in Minnesota
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