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.”
U.S. Senators Amy Klobuchar, Tina Smith Announce Funding to Help Grow Global Export Markets for Minnesota Producers
MINNEAPOLIS – U.S. Senators Amy Klobuchar and Tina Smith (both D-MN) announced funding from the Regional Agricultural Promotion Program (RAPP) to help grow export markets for American farm and food products around the world. The additional $300 million investment will go to organizations across the U.S. to implement market development projects focusing on a wide range of products and agricultural markets. “Boosting America’s agricultural exports is great for Minnesota farmers and rural economies,” said Klobuchar. “This funding will help farmers enter the global export market and maintain America’s leadership in agricultural exports.” “Minnesota has long been a linchpin in America’s agricultural market, and
U.S. Senator Tina Smith Urges Justice Department to Address the Use of AI in Wrongful Evictions
MINNEAPOLIS, MN – U.S. Senator Tina Smith (D-Minn.), Chair of the Senate Housing Subcommittee, sent a letter to the Department of Justice urging them to address the use of artificial intelligence (AI) in eviction filings. The letter comes on the heels of a Minnesota lawsuit against a firm whose automated eviction filing system may have violated federal law by enabling them to file thousands of complaints without adequate investigation or accuracy controls, leading to wrongful evictions. Automated tools also allow corporate landlords to file serial evictions as a means of collecting rent, placing significant legal burdens on renters. Minnesota renters have
U.S. Senators Amy Klobuchar, Tina Smith Announce Significant Biofuel and Clean Energy Expansion Projects Across Minnesota
INVER GROVE HEIGHTS, MN – Today, U.S. Senators Amy Klobuchar and Tina Smith (both D-MN), announced 71 farms and small businesses across Minnesota will receive federal funding to install clean energy technology and make energy efficiency improvements, in addition to 15 awards to build out the infrastructure businesses need to make domestic biofuels more accessible. These investments will lower Minnesota’s carbon emissions while saving consumers money on energy and gas. “Domestically produced biofuel and renewable power systems strengthen our energy independence, support our farmers, and boost rural economies,” said Senator Klobuchar. “These federal funds will also help families and businesses transition to
Klobuchar, Smith, Finstad Resolution to Recognize Minnesota State University, Mankato’s Woman and Men’s Basketball Team Passes Senate
WASHINGTON—U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) announced their resolution celebrating the Minnesota State University, Mankato Women’s and Men’s basketball teams’ winning the 2024 NCAA Division II Basketball National Championships passed the Senate. U.S. Representative Brad Finstad (R-MN) led companion legislation in the House of Representatives. “One school, two national championships, and a chapter in the Minnesota sports history books,” said Klobuchar. “This resolution recognizes the hard work and incredible accomplishments of the Mankato Maverick Basketball teams during the 2024 season. Congratulations to the players, coaches, staff, administrators and fans on a great season!” “I am so proud to see both
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