Latest Releases
U.S. Senators Tina Smith, Mike Rounds Announce More Bipartisan Support for Legislation to Modernize and Reform Rural Housing Programs
Washington [9.19.23] – This week, Senators Tina Smith (D-MN) and Mike Rounds (R-SD) announced growing support for their bipartisan legislation to improve federal rural housing programs, cut red tape, and strengthen the supply of affordable housing. Their updated bill would represent the most significant Rural Housing Service reforms years, and has the support of a large bipartisan group of senators including eight members of the Banking Committee. New cosponsors include Senators Cynthia Lummis (R-WY), Jon Tester (D-MT), Mike Crapo (R-ID), Chris Van Hollen (D-MD), Steve Daines (R-MT), and John Fetterman (D-PA). “Without a safe, affordable place to live, nothing else in your life works. Not your job, not your education, not your health,” said 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. I’m excited about the growing support for this package of rural housing reforms” “I am pleased with the bipartisan coalition that is building around this commonsense legislation to update USDA’s Rural Housing Service,” said Rounds. “Homeownership is part of the American dream and a key to building wealth. This legislation makes important improvements and updates that will create and preserve affordable housing opportunities in South Dakota. As we face an affordable housing crisis across the nation, I
U.S. Senator Tina Smith Applauds Senate Passage of Her Bipartisan Bill to Help Small Businesses Access Capital, Create Jobs in Rural America
WASHINGTON – U.S. Senator Tina Smith (D-MN) applauded the Senate’s passage of her bipartisan Expanding Access to Capital for Rural Job Creators Act. The legislation, which is co-led by Senator John Kennedy (R-LA), would help eliminate hurdles small businesses in rural areas disproportionately face when they try to access capital. “Access to capital is essential to the economic health and growth of rural communities in Minnesota and across the country,” said Sen. Smith. “Rural small businesses often face disproportionate obstacles when trying to secure capital to develop and grow their businesses. This legislation would help rural small businesses overcome these hurdles and strengthen our rural economies.” Access to capital is critical for starting and expanding rural small businesses, which often face a disproportionate number of obstacles when seeking capital investment. This bipartisan legislation, the Expanding Access to Capital for Rural Job Creators Act, would require the Securities and Exchange Commission to submit annual reports on the unique challenges small businesses in rural areas face when trying to secure capital. The report would outline roadblocks and identify solutions to ensure rural small businesses, and the local economies they support, are able to develop and grow. Senators Gary Peters (D-MI), Raphael Warnock (D-GA), Shelley Moore Capito (R-WV) and Jacky Rosen (D-NV) also cosponsored the legislation.
U.S. Senator Tina Smith Calls for Action to Protect Homebuyers from Predatory Lending
WASHINGTON, D.C. [05/13/19]—U.S. Senator Tina Smith (D-Minn.) is calling on the Consumer Financial Protection Bureau (CFPB)—to improve protections for Minnesotans and Americans purchasing manufactured homes, after hearing from multiple consumer advocates that unwitting home buyers are often steered toward higher-cost loans. Sen. Smith—a member of the Senate Banking, Housing, and Urban Affairs—and eight of her Senate colleagues highlighted the lack of transparency manufactured homebuyers face when it comes to lending practices in a letter to CFPB Director Kathy Kraninger. The letter was led by Sen. Catherine Cortez Masto (D-Nev.). “Typically, the majority of consumers who have not
Klobuchar Introduces Legislation to Provide Relief to Those Caring for Aging Relatives
WASHINGTON D.C. [05/10/2019] – U.S. Senator Amy Klobuchar (D-MN) reintroduced the Americans Giving Care to Elders (AGE) Act to provide financial relief to caregivers by creating a tax credit for the costs of caring for an aging relative. The AGE Act would allow families to qualify for a tax credit to help offset expenses—ranging from purchasing assistive technologies and devices, respite care, to making necessary home modifications—of up to $6,000 per year. Klobuchar first introduced the AGE Act in 2015. The bill is co-sponsored by Senators Mazie K. Hirono (D-HI), Tina Smith (D-MN), and Dianne Feinstein (D-CA). “We know that caregiving can be extremely expensive—especially when family
U.S. Senator Tina Smith Pushes for Prescription Drug Pricing Transparency
WASHINGTON, D.C. [05/09/19]—Today, U.S. Senator Tina Smith (D-Minn.) helped introduce bipartisan legislation to combat skyrocketing prescription drug prices. The Fair Accountability and Innovative Research (FAIR) Drug Pricing Act would require drug manufacturers to disclose and provide more information about planned drug price increases, including research and development costs. Increased transparency will help provide much-needed context for taxpayers, consumers, and policymakers about the costs and value of medications, and may also incentivize companies to reassess the long-standing practice of relentless drug price increases. The bill was led by Sens. Tammy Baldwin (D-Wisc.) and Mike Braun (R-Ind.), and Sen. Lisa Murkowski (R-Alaska) is a cosponsor. I’ve traveled around Minnesota to talk
U.S. Senator Tina Smith, U.S. Representative Ben Ray Luján Introduce Legislation to Establish Federal Clean Energy Standard
WASHINGTON, D.C. [05/08/19]—Today, U.S. Senator Tina Smith (D-Minn.) and U.S. Representative Ben Ray Luján (D-N.M.), the U.S. House Assistant Speaker, introduced the Clean Energy Standard of Act of 2019, which would establish a federal Clean Energy Standard (CES), to put our nation on course to achieve net-zero emissions from the electric sector by midcentury to fight climate change. Sen. Smith and Rep. Luján said the science is clear—tackling the climate crisis requires serious and quick action to reduce greenhouse gas emissions. One of the immediate actions necessary to reduce emissions produced when we generate electricity, and the measures they introduced
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