Latest Releases
Senator Smith’s Bipartisan Legislation to Provide Transparency for Those Looking to Purchase Popular Long-Term Savings Vehicles Passes Senate
WASHINGTON, D.C. – Today, U.S. Senator Tina Smith (D-MN) announced her bipartisan legislation with Senator Thom Tillis (R-NC) to help provide transparency for consumers looking to purchase popular, long-term savings vehicles has passed the Senate. The bill would help ensure that investors considering purchasing Registered Index Linked Annuities (RILAs) get clear and direct information that promotes investor understanding. “It’s more important than ever for consumers to have clear and concise information about their investments,” said Smith. “This legislation would help consumers looking to purchase RILAs by providing clear information about their potential investments in terms that they are able to understand. I hope this legislation will offer a model for how disclosures can and should be designed with consumers in mind. I look forward to working with my colleagues in the House to help get this bill across the finish line and signed into law.” “This commonsense legislation will create a new form for index-linked annuities through the SEC, which will ensure the buyer has all the necessary information when making a decision,” said Tillis. “This legislation is a necessary step for transparency, and I am proud to work on this bipartisan legislation with my colleagues.” The sale of RILAs, which are tax-deferred, long-term investments often used for retirement, have grown rapidly in recent years. However, the lack of a tailored form for registering these products with the Securities and Exchange Commission (SEC) often results in long, dense disclosures that are incomprehensible to the typical purchaser. The Registration for Index-Linked
Klobuchar, Smith Statements on Confirmation of Jerry Blackwell to be U.S. District Court Judge
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) issued the following statements after the Senate confirmed Jerry Blackwell to serve as a United States District Court Judge for the District of Minnesota. Blackwell has more than three decades of legal experience and was highly recommended by the judicial selection committee Senators Klobuchar and Smith convened to assist them in providing a recommendation to President Biden. “Jerry Blackwell is one of the most widely respected and accomplished members of the Minnesota legal community. With nearly 35 years of trial practice– including the successful prosecution of the murder of George Floyd – I’m confident he has the qualifications and experience needed to be an excellent U.S. District Court Judge,” said Klobuchar. “As a member of the Senate Judiciary Committee, I fought to advance his nomination through the Senate, and I thank my colleagues on both sides of the aisle for their support of this outstanding nominee.” “Jerry Blackwell’s confirmation is an exciting event for Minnesota,” said Smith.“His dedication to equal justice and distinguished record as an attorney and leader in Minnesota’s legal community make him exceptionally well-qualified for this position, and I congratulate him on his confirmation.” Blackwell was appointed by Minnesota Attorney General Keith Ellison to serve as a Special Assistant Attorney General during the trial of former Minneapolis Police Officer Derek Chauvin for the murder of George Floyd. Since 2005, he has also worked as a founding partner of Blackwell Burke P.A., where he has litigated numerous
U.S. Senator Tina Smith: We Must Ensure Veterans Receive Full Housing Benefits
WASHINGTON, D.C. [12/03/18]—U.S. Senator Tina Smith (D-Minn.) is helping to lead a bipartisan push to get the Department of Veterans Affairs (VA) to quickly clarify how it intends to “make whole” the more than 360,000 veterans in Minnesota and across the country who are at risk of being denied the full housing benefits they’ve earned. In response to recent reports that the VA plans to withhold retroactive payments for missed or underpaid monthly housing benefits from some veterans because it would create a backlog, Sen. Smith joined 12 of her Congressional colleagues in asking the VA’s Inspector General to investigate
Sen. Smith Demands Urgent Action on Climate Change in Floor Speech
WASHINGTON, D.C. [12/06/18]—Today, U.S. Senator Tina Smith (D-Minn.), in a speech on the Senate floor, demanded urgent action to combat climate change and spoke out against Trump Federal Energy Regulatory Commission (FERC) nominee Bernard McNamee’s troubling environmental record. Citing evidence from the latest National Climate Assessment, Sen. Smith pointed to threats to Minnesota if temperatures continue to rise. You can watch Sen. Smith’s speech here. “The problems of a changing climate are already known to us Minnesotans,” said Sen. Smith. “Our winters are milder than they used to be. We know that rain patterns are changing. We are prone to long hot, dry
Merkley, Senators Introduce Bill to Make Public Transit Cleaner, Healthier, More Affordable
WASHINGTON, D.C. – Oregon’s U.S. Senator Jeff Merkley, along with Senators Tina Smith (D-MN), Catherine Cortez Masto (D-NV), Bernie Sanders (I-VT), Cory Booker (D-NJ), and Kamala Harris (D-CA), today introduced a bill that would provide transit authorities with zero-interest loans to purchase electric buses—curbing emissions among the top source of greenhouse gas pollution in the United States, and cutting fleet maintenance costs by tens of thousands of dollars. “Climate chaos is threatening our future, and we need to act boldly and quickly to stop it,” Merkley said.“Electric buses mean lower operating costs as well as better health and less pollution, but
U.S. Senator Tina Smith: Education Department Taking a Step in the Right Direction for Teachers to Receive Promised Aid
WASHINGTON, D.C. [12/10/18]–Today, U.S. Senator Tina Smith (D-Minn.) released the following statement after the Education Department announced it will be instituting a process to help teachers who have been unfairly forced to repay thousands of dollars after grants they received were later, and often erroneously, converted to loans. “This is a great first step for all the teachers who have been fulfilling the service requirements for the TEACH Grant program, but who had their grants converted into loans—with back interest due—because of minor paperwork issues related to the overly complicated annual certification process,” said. Sen. Smith. “This annual paperwork process must be
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