Latest Releases
Senator Smith, Grassley Introduce Bipartisan Legislation to Research the Impact of Consolidation on Livestock Farmers and Ranchers
WASHINGTON – Today, U.S. Senators Tina Smith (D-MN) and Chuck Grassley (R-IA), introduced bipartisan legislation to support research into the impact of livestock market consolidation on farmers, ranchers, and consumers in an effort to better understand the problem and craft effective solutions. “Just a handful of large companies have come to dominate the meat and poultry processing industry, which means higher prices for consumers and shrinking earnings for farmers,” said Sen. Smith. “This bipartisan bill would uncover the impact of this consolidation on farmers and consumers and help us create the best possible solutions to fix the problem. I look forward to working with Senator Grassley and my colleagues on both sides of the aisle to pass this legislation as part of the Farm Bill.” “This type of measure is long overdue. Iowa producers are well aware of the downsides of consolidation in the meat industry,” said Sen. Grassley. “Their returns on hard work are getting squeezed more every year all consumers pay more at the grocery stores. I’m glad to work in a bipartisan way with Senator Smith as we continue trying to address this problem.” “Farmers Union launched the Fairness for Farmers campaign to call attention to the increasingly consolidated agricultural marketplace where the four largest beef packers control 85 percent of beef packing and the farmer’s share of the food dollar has dropped from 50 percent in 1952 to less than 16 percent today,” said Minnesota Farmers Union (MFU) President Gary Wertish. “Sen. Smith’s bill will help
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 in economically distressed areas and address disparities in access to capital for underserved communities. 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 underserved communities – from urban areas to small towns and rural communities to Tribal lands. “Unequal access to capital and financial services is a key driver of economic disparity in rural areas, communities of color, and Indigenous communities,” 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.” Their legislation—the CDFI Bond Guarantee Program Improvement Act, named for Community Development Financial Institutions–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 without a taxpayer subsidy and allows CDFIs to access long-term, stable funding. The CDFI Bond Guarantee Program was enacted 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
U.S. Sens. Klobuchar, Smith Fight to Overturn U.S. Department of Education Secretary Betsy DeVos’ Harmful Rule that Guts Protections for Student Loan Borrowers
WASHINGTON, D.C. [09/30/19]–U.S. Senators Amy Klobuchar and Tina Smith (D-Minn.) are pushing to overturn U.S. Department of Education Secretary Betsy DeVos’ move to gut essential protections for student loan borrowers who’ve been wronged by their schools. The Senators joined more than thirty of their Senate colleagues in introducing a Congressional Review Act (CRA) resolution of disapproval of DeVos’ rewritten borrower defense rule, which makes it more difficult for borrowers who are defrauded by their school or harmed by their school’s closure to receive relief. “Students shouldn’t have to worry about predatory practices from colleges while they are preparing to further their education and
Following Equifax Settlement, U.S. Senators Smith, Markey and Blumenthal Introduce Bill to Hold Data Broker Industry Accountable
WASHINGTON, D.C. [09/26/19]—Today, U.S. Senators Tina Smith (D-Minn.), Edward J. Markey (D-Mass.) and Richard Blumenthal (D-Conn.) introduced legislation to require accountability and transparency from data brokers like Equifax that collect and sell personal information about consumers in Minnesota and across the nation. The Data Broker Accountability and Transparency Act would prohibit data brokers from engaging in discriminatory data use practices; make it possible for consumers to access and correct their information; and provide consumers with the right to stop data brokers from using, sharing, or selling their personal information for marketing purposes. The bill additionally would require data brokers to develop comprehensive
U.S. Senator Tina Smith’s Bipartisan Energy Storage Legislation Clears Major Hurdle in The Senate
WASHINGTON, D.C. [09/23/2019]—U.S. Senator Tina Smith (D-Minn.) said several provisions she authored to improve the nation’s energy storage capabilities were approved by the Senate Energy and Natural Resources Committee today as part of a larger bipartisan energy storage measure. That legislation will now go to the full Senate for consideration. Sen. Smith said that key provisions from her Promoting Grid Storage Act of 2019 were included in the package and would boost research and development of cutting-edge technologies, increase energy storage capabilities for America’s electric grid, and enable the expanded use of clean energy. “The United States can lead the clean energy revolution, or we can follow. I, for one, want us
Klobuchar, Smith, Stauber Announce Over $1.9 Million in Funding for Rural Broadband Development in Aitkin County
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN), along with Representative Pete Stauber (R-MN-08) announced over $1.9 Million in funding for broadband deployment in Aitkin County. The Community Connect grant of $1,953,464 from the U.S. Department of Agriculture (USDA) will be used to construct a fiber broadband network helping spur economic, business, telehealth, and educational improvements in Rice River Township and Spaulding Township. “Our 21st century economy demands 21st century infrastructure, and that requires investments in roads, bridges, airports, and rural broadband,” Klobuchar said. “This crucial funding will connect these communities – bringing high speed internet to even more
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