Latest Releases
Senators Smith, Rounds Reintroduce Bipartisan Bill to Spur Economic Development in Underserved Communities
WASHINGTON – U.S. Senators Tina Smith (D-MN) and Mike Rounds (R-SD) reintroduced bipartisan legislation to jumpstart economic development and address disparities in access to capital. The bill would strengthen and expand Community Development Financial Institutions (CDFI), which play a critical role in bringing capital and financial services to a wide range of small businesses, homeowners and housing developers. Their legislation—the CDFI Bond Guarantee Program Improvement Act will extend authorization of the CDFI Bond Guarantee Program, while making it more reliable and accessible to smaller CDFIs. This legislation will expand and improve a successful program that operates at no cost to taxpayer and allows CDFIs to access long-term, stable funding. The CDFI Bond Guarantee Program was established in 2010 to provide long-term, low-cost capital to CDFIs, which use the funding for economic development activities in underserved communities. The program’s authorization lapsed in 2014, but it has been extended on a year-by-year basis in annual appropriations bills. Under current program rules, borrowers must have a loan size of at least $100 million – which means that the program can only be used for relatively large projects. “Unequal access to capital and financial services is a key driver of economic disparity around Minnesota,” said Sen. Smith. “This legislation will jumpstart economic development in these communities by expanding and enhancing a program with a track record of effective capital investment and community development.” “Since 2010, the Community Development Financial Institutions (CDFI) Bond Guarantee Program has extended long-term, low-cost capital to underserved communities across America,” said Sen. Crapo. “By reducing the minimum dollar amount for each loan,
U.S. Senator Tina Smith’s Statement on Trump Administration’s Move to Abandon Minneapolis Police Reform
WASHINGTON, D.C — Today, U.S. Senator Tina Smith (D-Minn.) issued the following statement on the Department of Justice’s decision to withdraw the federal consent decree with the Minneapolis Police Department: “I am deeply disturbed by the Trump administration’s decision to abandon the federal consent decree with the Minneapolis Police Department. This decree was based on the Justice Department’s own investigation, which found a pattern of unconstitutional and discriminatory policing practices that have hurt our community, especially Black and Native American people and people with mental illness, for decades. “It’s especially painful that this decision comes on the eve of the fifth anniversary of George Floyd’s murder—the very tragedy that sparked this investigation and the urgent push for reform. I led the call for that federal civil rights investigation because Minnesotans deserve accountability and reform. Walking away from this agreement, after confirming the need for it, is unconscionable. “Thankfully, the City of Minneapolis and Minnesota state leaders continue to stand on the side of justice. I’m grateful that the state-negotiated consent decree remains in place to continue working toward meaningful reform. The Minneapolis Police Department has taken steps in the right direction and is committed to continuing that work even as the federal government walks away. “Every Minnesotan deserves to be safe in their homes and neighborhoods, and that safety must include freedom from unconstitutional and discriminatory policing. This work isn’t finished yet, and we will keep holding ourselves accountable.”
Klobuchar, Smith, Finstad, Craig Urge Treasury Department to Issue Clean Fuel Production Credit Guidance to Increase U.S. Production of Biofuels
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) and Representatives Brad Finstad (R-MN) and Angie Craig (D-MN) joined a bipartisan, bicameral group of lawmakers in urging the U.S. Department of the Treasury to issue timely guidance on the 45Z Clean Fuel Production Credit to give farmers, blenders, retailers, and fuel users certainty and the time needed to make additional clean fuel projects a reality. The 45Z Clean Fuel Production Credit consolidates and replaces several fuel-related credits currently scheduled to expire at the end of the year. While 45Z was written to increase the domestic production of clean,
U.S Senators Tina Smith, Amy Klobuchar Announce Funding to Improve Bus Infrastructure in Southeastern Minnesota
WASHINGTON, D.C. – U.S. Senator Tina Smith, Chair of the Senate Subcommittee on Transportation, and Senator Amy Klobuchar (both D-MN) announced a grant from the U.S. Department of Transportation (DOT) to strengthen bus and transportation infrastructure in Southern Minnesota. One hundred and seventeen communities across the country are getting grants from the DOT thanks to the Bipartisan Infrastructure Law, legislation passed by President Biden in 2021 that has delivered infrastructure upgrades to nearly 5,000 communities nationwide. The Minnesota Department of Transportation will receive $6,282,400 tobuild two new transit facilities in Austin and Waseca. This project will help improve efficiency and enhance reliable transportation services
U.S Senators Tina Smith, Amy Klobuchar Announce Funding to Improve Bus Infrastructure in Eden Prairie
WASHINGTON, D.C. – U.S. Senator Tina Smith, Chair of the Senate Subcommittee on Transportation, and Senator Amy Klobuchar (both D-MN) announced a grant from the U.S. Department of Transportation to strengthen bus and transportation infrastructure in Eden Prairie. One hundred and seventeen communities across the country are getting infrastructure upgrades thanks to the Bipartisan Infrastructure Law, legislation passed by President Biden in 2021 that has delivered infrastructure upgrades to nearly 5,000 communities nationwide. SouthWest Transit, the public transportation agency serving the Western metro area, will receive $520,436 from the Federal Transit Administration to rehabilitate the Southwest Station Park and Ride and bus
U.S Senators Tina Smith, Amy Klobuchar Announce Funding to Improve Bus Infrastructure in Southwestern Minnesota
WASHINGTON, D.C. – U.S. Senator Tina Smith, Chair of the Senate Subcommittee on Transportation, and Senator Amy Klobuchar (both D-MN) announced a grant from the U.S. Department of Transportation to strengthen bus and transportation infrastructure in Southern Minnesota. One hundred and seventeen communities across the country are getting infrastructure upgrades thanks to the Bipartisan Infrastructure Law, legislation passed by President Biden in 2021 that has delivered infrastructure upgrades to nearly 5,000 communities nationwide. The Minnesota Department of Transportation will receive $2,303,200 to buy propane buses and build the necessary fueling infrastructure in Marshall, Minnesota. The project will improve service, reliability and lower maintenance costs
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