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
U.S Senator Tina Smith Signs onto Bill to Crack Down on Explosion of Robocalls
WASHINGTON, D.C. [04/10/2019]—This week, Sen. Smith (D-Minn.) signed on to a bill that would increase penalties against telemarketers who spam Americans with robocalls and promote call authentication and blocking technologies. Robocalls are on the rise, with one source reporting an increase of 50% in robocall volume from February to July of last year. The legislation is also supported by the senior Senator from Minnesota, Amy Klobuchar (D-Minn.). The bipartisan Telephone Robocall Abuse Criminal Enforcement and Deterrence (TRACED) Act increases penalties for fraudulent telemarketers, while also implementing measures to proactively protect consumers from receiving unwanted robocalls. The bill was introduced by
U.S. Senator Tina Smith Helps Introduce Bipartisan Bill to Stop Schools From Publicly Singling Out Children Unable to Pay for Meals at School
WASHINGTON, D.C. [04/10/2019]—Today, U.S. Senator Tina Smith (D-Minn.) helped introduce legislation to prohibit school “lunch shaming”—the practice of punishing or stigmatizing children who have an outstanding balance or don’t have enough money to pay for meals at school. The Anti-Lunch Shaming Act—led by Senator Tom Udall (D-N.M.)—would ban schools from requiring children to wear hand stamps or do extra chores because their parents or guardians have not paid their school meal bills. Minnesota is currently considering a similar measure to address this shameful practice, and the federal Anti-Lunch Shaming Act aims to provide protections to students throughout the country. You can read text of the bill
Rep. Betty McCollum Wins 9th Annual Minnesota Congressional Delegation Hotdish Competition
***PHOTO AND VIDEO RELEASE*** WASHINGTON, D.C. [04/09/2018]—Today, Senator Tina Smith (D-Minn.) hosted the ninth annual Minnesota Congressional Delegation Hotdish Competition. Sen. Smith took up the helm last year to continue the annual hotdish off to determine which Minnesota Congressional Delegation member makes the best hotdish—a dish similar to what other states call a casserole, but is indisputably better. You can download video from the event here and here. Participants’ recipes can be found here. You can find photos of the competition here. Rep. Betty McCollum’s “Hotdish A-Hmong Friends” was named the winner of the 2019 Hotdish Off after a blind taste
U.S. Senator Tina Smith Introduces Bipartisan Bills to Invest in Rural Communities
WASHINGTON D.C. [04/04/2019]— This week, U.S. Senator Tina Smith helped introduce a pair of bipartisan bills to expand investments in rural communities: one designed to help improve rural broadband, and one to improve rural health care. Sen. Smith has been contacted by several Minnesota cooperatives—which are a vital part of the effort to build out rural broadband in the state—that are at risk of losing their tax-exempt status due to a mistake in the 2017 tax law. The mistake in the 2017 law put the tax-exempt status of co-ops at risk if they receive government grants to expand broadband or
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