Latest Releases
U.S. Senators Tina Smith, Cynthia Lummis Introduce Bipartisan Legislation to Protect Prospective Homebuyers from Predatory Financing Agreements
WASHINGTON, D.C. – Today, U.S. Senators Tina Smith (D-MN) and Cynthia Lummis (R-WY) introduced the Preserving Pathways to Homeownership Act, bipartisan legislation to establish basic protections for consumers who seek to purchase a home using a land contract, or contract for deed. Land contracts are an alternative form of seller financing for real estate transactions, often marketed as a way for people who can’t get a conventional mortgage to realize the dream of owning a home. However, land contracts can lack many of the consumer protections available in mortgage lending: full disclosure of costs and fees, protections if a homeowner misses payments or falls on hard times, and protections in the case of fraud. Unscrupulous sellers have used these arrangements to take advantage of unsuspecting buyers. They design the land contract to fail and move to evict when the buyer inevitably breaches it. Buyers typically lose their home and everything they’ve invested in it, and the seller can repeat this process with other buyers. It is estimated that across the country, more than 8 million homes have been sold with land contracts, underscoring the widespread nature of this issue. “Without a safe, decent place to call home, nothing in your life works – not your job, your health, your education, or your family. It is appalling that some Minnesota families trying to pursue the dream of home ownership, who are struggling to receive traditional mortgages, whether due to their credit rating, or because the tenets of their faith preclude them from paying and profiting off
The Affordable Housing and Homeownership Protection Act Would Tackle Housing Crisis by Creating Millions More Homes and Helping Main Street Compete with Wall Street
WASHINGTON, DC – As the nation’s housing shortage pushes home prices and rents to historic levels, a new Senate bill would provide tens of billions of dollars to help create millions of new homes for low-income Americans. U.S. Senators Tina Smith (D-MN), Jack Reed (D-RI)and Tammy Baldwin (D-WI) are teaming up with several colleagues to introduce the Affordable Housing and Homeownership Protection Act (S. 3673). This bill would generate up to $50 billion over ten years to help build and preserve approximately 3 million affordable housing units nationwide. The bill would be fully paid for through a transfer tax on large investors who profit by purchasing sixteen single-family homes or more. Driven by a shortage of as many as 6.8 million homes nationwide, homes prices have surged 39% and rents 31% over the last four years, according to the National Association of Realtors and Zillow. Higher rents and fewer opportunities for homeownership are devastating for millions of families. As housing costs skyrocket, more households are priced out of homeownership, while renters have less to spend on food, clothing, and other everyday necessities. Low-income Americans are particularly strained – the National Low Income Housing Coalition estimates 73% of extremely low-income households spend more than half their income on housing. Unsurprisingly, homelessness has risen in line with housing prices and is up 15% since 2019. Unfortunately, federal investments in low-income housing are insufficient to solve this affordability crisis. Indeed, researchers at Harvard University found that the three largest federal housing programs serve nearly
Smith, Klobuchar: Senate Passes Legislation to Give Eligible Liberians Permanent Residency Status and Pathway to Citizenship, Heads to President’s Desk
WASHINGTON – Yesterday, U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) announced that following years of advocacy and leadership to extend permanent residency status to Liberians, the National Defense Authorization Act (NDAA), which includes a provision to allow eligible Liberians living in the United States currently on the temporary immigration status of Deferred Enforced Departure (DED) to continue living legally in the U.S. and get on a pathway to earning U.S. citizenship, has passed the Senate. The legislation passed the U.S. House of Representatives last week and after Senate passage now heads to the President’s desk to be signed into law.
U.S. Senator Tina Smith Introduces Legislation to Help Tribal Communities Address Opioid Epidemic, Mental and Behavioral Health
WASHINGTON, D.C. [12/19/19]—Today, U.S. Senator Tina Smith (D-Minn.) introduced a bill—along with U.S. Sens. Tom Udall (D-N.M.), Jon Tester (D-Mont.), Elizabeth Warren (D-Mass.), and Catherine Cortez Masto (D-Nev.)—to help Tribal communities in Minnesota and across the country access the resources they need to support people who are struggling with mental health issues or substance use disorders. Tribal communities have been hit hard by the opioid epidemic. According to a leading health agency, American Indians and Alaska Natives experience some of the highest drug overdose death rates. However, many tribal communities don’t have the resources they need to tackle this public
U.S. Sen. Tina Smith: Administration’s Renewable Fuel Standard Policy is “Bait and Switch” and Falls Short of What Minnesotans, Americans Deserve
WASHINGTON, D.C. [12/19/19]—Today, U.S. Senator Tina Smith (D-Minn.)—a member of the Senate Agriculture Committee—released the following statement after the Trump Administration announced final biofuel-blending quotas that fall short of accounting for the harmful abuse of small refinery waivers granted by the Environmental Protection Agency (EPA) in Renewable Fuel Standard (RFS) blending targets. President Trump announced in early October that he would take steps to make up for the abuse of small refinery waivers, which have allowed oil refineries to avoid using four billion gallons of biofuels. But the Administration’s plan released mid-October accounted for a fraction—less than half—of the gallons of
U.S. Senators Smith & Klobuchar Announce Public Housing Fire Safety Act Following Tragic Fire in Minneapolis
WASHINGTON, D.C. [12/18/2019]—Today, U.S. Senators Tina Smith and Amy Klobuchar (D-Minn.) introduced legislation—the Public Housing Fire Safety Act—that would create a program to provide support to public housing authorities who wish to retrofit older high-rise apartment buildings with sprinkler systems. The Federal Fire Safety Act of 1992 required the installation of sprinklers in all new government-owned high rise buildings. However, there are thousands of public housing apartment buildings around the country built before that date. According to data from the Department of Housing and Urban Development (HUD), for example, nearly all of the high-rise public housing buildings in Minneapolis, Minnesota were
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