Latest Releases
U.S. Senator Tina Smith Reintroduces Legislation to Support Sustainable Workplace Retirement Plans
WASHINGTON, D.C. [02/16/23]— Today, U.S. Senator Tina Smith (D-Minn.) reintroduced legislation to provide legal certainty to workplace retirement plans that choose to consider environmental, social and governance (ESG) factors in their investment decisions or offer ESG investment options. “Sustainable investment options are good for retirees and good for our environment—that’s a win-win,” said Sen. Smith, a member of the Senate Banking Committee. “I’m putting forth this legislation because we know there’s a growing demand for sustainable investing, and Congress should act now to provide the legal certainty necessary to make sure workplace retirement plans are able to offer these options to workers across the country.” Despite considerable demand for sustainable investment options, relatively few workplace retirement plans, such as pensions and 401(k) plans, take sustainable investing principles into account in their investment decisions or provide sustainable investment options to workers. This is the case even though many workers and retirees want their plans to do so. One of the primary issues hindering plans that want to offer sustainable investment options is an uncertain and regularly changing legal environment. Under the Trump Administration, the Department of Labor issued a rule that imposed new limits on the consideration of environmental, social, and governance (ESG) factors by workplace retirement plans. That rule was rescinded and replaced last year, once again allowing plans to invest sustainably. However, the new rule is currently subject to a legal challenge and is the target of a Congressional Review Act resolution. The Freedom to Invest in a Sustainable Future Act
U.S. Senators Tina Smith, Lindsey Graham Reintroduce Bipartisan Legislation to Help Prepare Young People for the Workforce
WASHINGTON, D.C. [02/16/23]—This week, U.S. Senators Tina Smith (D-Minn.) and Lindsey Graham (R-S.C.) reintroduced bipartisan legislation to promote partnerships between afterschool providers and businesses so young people can explore career paths and opportunities that help them land their first jobs and thrive in the workforce. The Youth Workforce Readiness Act would support high-quality programs that help young people gain practical skills and connect them to real-life work experiences and learning opportunities. The legislation is co-sponsored by Senators Susan Collins (R-ME) and Ron Wyden (D-OR). “We should be doing everything we can to provide our kids with the skills and connections they need to find good jobs and contribute to their communities. I also hear from employers in Minnesota that they need help getting connected to great employees. That’s where afterschool and out-of-school time providers can play a role in helping young people gain skills and make connections to mentors, opportunities and local employers,” said Sen. Smith, a member of the Senate Education and Labor Committee. “Our bipartisan bill would help support youth success for years to come by exposing young people to a wide range of careers and helping them make connections in the workforce.” “Preparing our kids to successfully contribute to our economy helps keep America strong,” said Sen. Graham. “A well-educated, well-trained workforce is a key component to future economic development. This legislation is great news for South Carolina and an important investment in the future of our nation.” Right now, too many young people in Minnesota and around the
Sen. Smith “Proud” to be Joining Leadership of Bipartisan Rural Health Caucus
Today, U.S. Senator Tina Smith released the following statement after being named to leadership of the bipartisan Senate Rural Health Caucus: “All families deserve quality health care no matter where they call home,” said Sen. Smith. “But rural communities face unique challenges when it comes to access to health care, which is why I’m proud that I’ll be able to serve as a leader of the Senate Rural Health Caucus. It will give me an additional avenue to help fight to lower the cost of health care, combat the opioid crisis, and address the needs that rural communities face when
Sen. Tina Smith Pushes to Help Minnesotans Cut Costly Student Loan Debt
U.S. Senator Tina Smith has thrown her support behind a proposal to help tens of millions of student loan borrowers in Minnesota and around the country lower their monthly debt burden. The Bank on Students Emergency Loan Refinancing Act would give Americans with student debt the opportunity to refinance their loans at lower interest rates. Right now, people can refinance other types of debt—e.g. home, car, or business loans—but there’s no national program in place to refinance federal student loans. “The price tag on a college degree is a serious source of anxiety for Minnesota students and families, and often, the
Sen. Tina Smith Fights to Ensure 22,000 Retired Minnesota Workers Can Keep Hard-Earned Pensions
After recently meeting with retirees in Duluth whose hard-earned pensions are at risk of being drastically reduced due to chronic underfunding of the Central States Pension Fund, U.S. Senator Tina Smith is backing up her promise to support legislation that would help protect the pensions of retirees across the country, including 22,000 in Minnesota. The Butch Lewis Act—named for a veteran who was the head of his local union in Ohio and who fought to preserve fellow Teamsters’ pensions—would help shore up the Central States Pension Fund and strengthen the multi-employer pension system for all workers by creating a Pension Rehabilitation
Sen. Tina Smith Condemns Unchecked Dark Money in Politics, Calls for Legislation to Reform & Strengthen Campaign Finance Laws
U.S. Senator Tina Smith called on Congress to strengthen our nation’s campaign finance laws by ending the flood of unchecked, unlimited, and secret corporate money into our elections. Since the Supreme Court’s 2010 Citizens United v. FEC decision—which opened the door to unlimited corporate spending in politics—more than $600 million has been spent in federal elections without free and open information about where these millions are coming from. In response to the urgent need for campaign finance changes, Sen. Smith is cosponsoring two legislative reforms. The first would overturn Citizens United once and for all, and the second—the DISCLOSE Act—would require super PACs and other
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