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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.”
Senators Klobuchar, Smith Announce Significant Investment in Grand Rapids Transit Project
WASHINGTON – U.S. Senators Amy Klobuchar and Tina Smith (both D-MN) announced over $9.3 million in federal funding to support a free, on-demand transit service in Grand Rapids, Minnesota. The investment will be used to expand the current goMARTI (Minnesota’s Autonomous Regional Transit Initiative) vehicle fleet with electric vehicles and automated driving systems (ADS). The expanded fleet of vehicles will be wheelchair accessible and will expand service to communities that lack access to reliable, convenient transportation. “Investments in our transportation systems are a down-payment on the long-term economic success of our state and ensure Minnesotans can safely and reliably get
Senator Smith Reintroduces Bill to Address America’s Maternal Mortality Crisis
WASHINGTON – This week, U.S. Senator Tina Smith introduced legislation to address America’s worsening maternal mortality crisis, which has a disproportionate impact on Black, Brown, Indigenous and all People of Color. The Data to Save Moms Act seeks to understand the root causes of this emergency by improving data collection on maternal mortality and morbidity. From 2018 to 2021, the maternal mortality rate in the U.S. increased by 89%. The crisis is even more acute for Black, Native and Indigenous women, who are more than twice as likely to die due to a pregnancy-related complication as white women. “I do
Senator Tina Smith, Colleagues Introduce Bipartisan Bill to Protect U.S. Agricultural Exports
Washington, D.C. – Today, U.S. Senator Tina Smith (D-MN) joined Senators John Thune (R-SD), Tammy Baldwin (D-WI), and Roger Marshall (R-KS) in introducing bipartisan legislation to protect American food products from unfair trade practices by foreign countries. Common food and drink names such as parmesan, asiago, romano, and bologna are used around the world to describe products to consumers. However, due to geographic indication to European locations, the European Union has begun using economic and political influence to implement unfair trade practices under the guise of protecting geographic indicators. These unfair trade practices have the potential to block United States
Senator Smith, Colleagues Introduce Bill to Address Teacher Shortages in Low-Income Areas and Communities of Color
WASHINGTON – U.S. Senators Tina Smith (D-MN), Dick Durbin (D-IL), Tammy Baldwin (D-WI) and U.S. Representatives Brad Schneider (D-IL-10) and Haley Stevens (D-MI-11), introduced a bicameral bill that would address severe nationwide shortages of early childhood and K-12 teachers that disproportionately impact students from low-income backgrounds and students of color. Exacerbated by low pay, school leadership instability, and poor teaching conditions, schools in low-income communities struggle to retain experienced, qualified education professionals. On average, teachers are paid 23.5 percent less than other college graduates working in nonteaching fields, and teachers in low-income schools are more underpaid than teachers in more
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