Latest Releases
U.S. Senators Tina Smith, Cynthia Lummis Introduce Bipartisan Legislation to Protect Prospective Homebuyers from Predatory Financing Agreements
WASHINGTON, D.C. – Today, U.S. Senators Tina Smith (D-MN) and Cynthia Lummis (R-WY) introduced the Preserving Pathways to Homeownership Act, bipartisan legislation to establish basic protections for consumers who seek to purchase a home using a land contract, or contract for deed. Land contracts are an alternative form of seller financing for real estate transactions, often marketed as a way for people who can’t get a conventional mortgage to realize the dream of owning a home. However, land contracts can lack many of the consumer protections available in mortgage lending: full disclosure of costs and fees, protections if a homeowner misses payments or falls on hard times, and protections in the case of fraud. Unscrupulous sellers have used these arrangements to take advantage of unsuspecting buyers. They design the land contract to fail and move to evict when the buyer inevitably breaches it. Buyers typically lose their home and everything they’ve invested in it, and the seller can repeat this process with other buyers. It is estimated that across the country, more than 8 million homes have been sold with land contracts, underscoring the widespread nature of this issue. “Without a safe, decent place to call home, nothing in your life works – not your job, your health, your education, or your family. It is appalling that some Minnesota families trying to pursue the dream of home ownership, who are struggling to receive traditional mortgages, whether due to their credit rating, or because the tenets of their faith preclude them from paying and profiting off
The Affordable Housing and Homeownership Protection Act Would Tackle Housing Crisis by Creating Millions More Homes and Helping Main Street Compete with Wall Street
WASHINGTON, DC – As the nation’s housing shortage pushes home prices and rents to historic levels, a new Senate bill would provide tens of billions of dollars to help create millions of new homes for low-income Americans. U.S. Senators Tina Smith (D-MN), Jack Reed (D-RI)and Tammy Baldwin (D-WI) are teaming up with several colleagues to introduce the Affordable Housing and Homeownership Protection Act (S. 3673). This bill would generate up to $50 billion over ten years to help build and preserve approximately 3 million affordable housing units nationwide. The bill would be fully paid for through a transfer tax on large investors who profit by purchasing sixteen single-family homes or more. Driven by a shortage of as many as 6.8 million homes nationwide, homes prices have surged 39% and rents 31% over the last four years, according to the National Association of Realtors and Zillow. Higher rents and fewer opportunities for homeownership are devastating for millions of families. As housing costs skyrocket, more households are priced out of homeownership, while renters have less to spend on food, clothing, and other everyday necessities. Low-income Americans are particularly strained – the National Low Income Housing Coalition estimates 73% of extremely low-income households spend more than half their income on housing. Unsurprisingly, homelessness has risen in line with housing prices and is up 15% since 2019. Unfortunately, federal investments in low-income housing are insufficient to solve this affordability crisis. Indeed, researchers at Harvard University found that the three largest federal housing programs serve nearly
U.S. Senator Tina Smith Says Upcoming Government Funding Package Should Include Additional, Long-term Funding for Community Health Centers
WASHINGTON, D.C. [12/15/20]—Today, U.S. Senator Tina Smith (D-Minn.) joined a group of her colleagues in calling on Congressional leadership to include funding for community health centers (CHCs) in the upcoming government funding package to ensure that millions of Americans can continue to receive the care both during and after the pandemic. “The pandemic has had a dramatic economic impact on our health centers, many of which have been forced to implement safeguarding measures to ensure the long-term financial stability of their organization,” wrote Sen. Smith and her colleagues. “This includes some having made difficult personnel decisions, including temporary reductions in
U.S. Senator Tina Smith & U.S. Representative Karen Bass Press Attorney General Barr for Information on Use of Ketamine During Arrests
WASHINGTON, D.C. [12/14/2020]—In an effort to protect the health, safety and civil rights of Americans, today U.S. Senator Tina Smith (D-Minn.) and U.S. Representative Karen Bass (D-Calif.) led 7 lawmakers in pressing U.S. Attorney General William Barr for information about the use of ketamine and other sedatives or chemical restraints on individuals during their arrest or detention by law enforcement. Recent incidents highlight the dangers of administering sedatives during an arrest—in particular the death of Elijah McClain in Colorado and the medical emergency of Max Johnson in Minnesota. In their letter to Barr, Sen. Smith and Rep. Bass noted that law enforcement medics or paramedics typically administer ketamine to incapacitate
Following Bipartisan Call for Action Led by U.S. Sen. Tina Smith, U.S. Trade Representative Launches Challenge to Unfair Canadian Trade Practices that Harm U.S. Dairy Producers
WASHINGTON, D.C. [12/09/20]— U.S. Senator Tina Smith (D-Minn.) said today that she was pleased U.S. Trade Ambassador Robert Lighthizer has taken the first step in challenging unfair Canadian trade practices that are harming dairy producers in Minnesota and across the country. In August, Sen. Smith led a bipartisan group of 25 Senators in pressing Ambassador Lighthizer and U.S. Agriculture Secretary Sonny Perdue to take action to ensure Canada abides by the dairy provisions of the USMCA. Sen. Smith helped secure stronger dairy trade provisions in the U.S.-Mexico-Canada Free Trade Agreement (USMCA). The agreement took effect in July, and Lighthizer’s action
After Push From U.S. Sen. Tina Smith, USDA Increasing Incentive Payments For Some Conservation Reserve Program Practices from 5 to 20 Percent
WASHINGTON, D.C. [12/09/20]— U.S. Senator Tina Smith (D-Minn.) said today that the U.S. Department of Agriculture has responded to her push to increase Conservation Reserve Program (CRP) incentive payments for certain CRP practices from 5 percent to 20 percent. In October, Sen. Smith pressed U.S. Agriculture Secretary Sonny Perdue to increase incentive payments to stop the enrollment decline in the CRP, which plays a key role in protecting environmentally-sensitive farm land, stopping soil erosion, improving water quality and preserving wildlife habitat. In an October letter to Perdue, Sen. Smith, a member of the Senate Agriculture Committee, pushed him to significantly
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