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
Bill to Ensure Back Pay for Federal Contractor Employees Secures Bipartisan Support
WASHINGTON, D.C. [02/01/19]—Today, legislation to secure back pay for the federal contractor employees who went without pay during the recent government shutdown garnered bipartisan support thanks to Senator Susan Collins (R-Maine) cosponsoring a bill led by Senator Tina Smith (D-Minn.). “I want to thank my colleague Senator Collins for supporting the effort to make sure Americans who work shoulder to shoulder with federal employees receive back pay,” said Sen. Smith. “These are people who are often invisible—working in cafeterias, cleaning offices after others go home, and keeping our buildings safe—and they deserve back pay. This bill is trying to fix that, and
U.S. Senator Tina Smith, Senate Democrats Urge DeVos to Listen to Students and Survivors of Sexual Assault, Start Over on Title IX Rule
WASHINGTON, D.C. [02/04/2019]–U.S. Senator Tina Smith (D-Minn.) joined her colleagues—led by Senate Education Committee ranking member Senator Patty Murray(D-Wash.)—in urging Education Secretary Betsy DeVos to rescind proposed Title IX changes and to instead draft a rule that truly addresses sexual assault in schools, colleges, and universities in Minnesota and across the country. Since Secretary DeVos announced her proposed rule, students, survivors, advocates, and colleges around the country have fiercely opposed her proposal, which would weaken protections for students and allow schools to shirk their responsibility to keep students safe. “We urge you to listen to students, schools, and survivors across this country,” the Senators wrote. “Clearly, harassment and assault are
U.S. Senator Tina Smith’s Statement on President Trump’s State of the Union Address
WASHINGTON, D.C. [02/05/2019]—This evening, U.S. Senator Tina Smith (D-Minn.) released the following statement in response to President Trump’s State of the Union Address. “I grew up with my mom always saying something that I think a lot of other Americans heard growing up—that ‘actions speak louder than words.’ We heard the President bring up bipartisanship tonight, and wouldn’t it be great if he lives up to his words,” said Sen. Smith. “His actions need to match what he shared with all of us, and one place I hope we can gain bipartisan support is my bill to help federal contract workers get
U.S. Senator Tina Smith Continues Fight to Lower Prescription Drug Prices By Backing Bipartisan Legislation to Bring Generics to Market
Senator Says Bipartisan Legislation Would Combat Brand-Name Pharmaceutical Companies Unfairly Blocking Lower-Cost Generic Drugs WASHINGTON, D.C [02/06/2019]—This week, U.S. Senator Tina Smith (D-Minn.) continued one of her top health care priorities—lowering the skyrocketing costs of prescription drugs—by supporting bipartisan legislation led by Sen. Patrick Leahy (D-Vt.) to stop brand-name pharmaceutical companies from blocking lower-cost generic drugs to market. The Creating and Restoring Equal Access To Equivalent Samples (CREATES) Act, which is also supported by Minnesota Senator Amy Klobuchar (D-Minn.), would deter pharmaceutical companies from blocking cheaper generic alternatives from entering the marketplace. “The amount of money that Americans pay for medications
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