Latest Releases
U.S. Senator Tina Smith Reintroduces Legislation to Support Sustainable Workplace Retirement Plans
WASHINGTON, D.C. [02/16/23]— Today, U.S. Senator Tina Smith (D-Minn.) reintroduced legislation to provide legal certainty to workplace retirement plans that choose to consider environmental, social and governance (ESG) factors in their investment decisions or offer ESG investment options. “Sustainable investment options are good for retirees and good for our environment—that’s a win-win,” said Sen. Smith, a member of the Senate Banking Committee. “I’m putting forth this legislation because we know there’s a growing demand for sustainable investing, and Congress should act now to provide the legal certainty necessary to make sure workplace retirement plans are able to offer these options to workers across the country.” Despite considerable demand for sustainable investment options, relatively few workplace retirement plans, such as pensions and 401(k) plans, take sustainable investing principles into account in their investment decisions or provide sustainable investment options to workers. This is the case even though many workers and retirees want their plans to do so. One of the primary issues hindering plans that want to offer sustainable investment options is an uncertain and regularly changing legal environment. Under the Trump Administration, the Department of Labor issued a rule that imposed new limits on the consideration of environmental, social, and governance (ESG) factors by workplace retirement plans. That rule was rescinded and replaced last year, once again allowing plans to invest sustainably. However, the new rule is currently subject to a legal challenge and is the target of a Congressional Review Act resolution. The Freedom to Invest in a Sustainable Future Act
U.S. Senators Tina Smith, Lindsey Graham Reintroduce Bipartisan Legislation to Help Prepare Young People for the Workforce
WASHINGTON, D.C. [02/16/23]—This week, U.S. Senators Tina Smith (D-Minn.) and Lindsey Graham (R-S.C.) reintroduced bipartisan legislation to promote partnerships between afterschool providers and businesses so young people can explore career paths and opportunities that help them land their first jobs and thrive in the workforce. The Youth Workforce Readiness Act would support high-quality programs that help young people gain practical skills and connect them to real-life work experiences and learning opportunities. The legislation is co-sponsored by Senators Susan Collins (R-ME) and Ron Wyden (D-OR). “We should be doing everything we can to provide our kids with the skills and connections they need to find good jobs and contribute to their communities. I also hear from employers in Minnesota that they need help getting connected to great employees. That’s where afterschool and out-of-school time providers can play a role in helping young people gain skills and make connections to mentors, opportunities and local employers,” said Sen. Smith, a member of the Senate Education and Labor Committee. “Our bipartisan bill would help support youth success for years to come by exposing young people to a wide range of careers and helping them make connections in the workforce.” “Preparing our kids to successfully contribute to our economy helps keep America strong,” said Sen. Graham. “A well-educated, well-trained workforce is a key component to future economic development. This legislation is great news for South Carolina and an important investment in the future of our nation.” Right now, too many young people in Minnesota and around the
U.S. Senator Tina Smith Leads Senate Colleagues in Introducing Comprehensive Bill to Address Skyrocketing Prescription Drug Prices
WASHINGTON D.C. [06/12/19]—Today, U.S. Senator Tina Smith (D-Minn.) introduced comprehensive legislation to hold large pharmaceutical companies accountable for high prices and bring down costs for Americans. Sen. Smith, a member of the Senate Health Committee, said her measure would promote transparency by requiring pharmaceutical companies to disclose just how much money is going toward research and development, as well as marketing and pay for executives. Her bill would also end the restriction that prevents the federal Medicare program from using its buying power to negotiate lower drug prices for its beneficiaries, and curb drug company monopoly practices that keep
U.S. Senator Tina Smith, Representative Ayanna Pressley Highlight Step Forward for Federal Contractor Employees Affected by Shutdown with Back Pay Included in Spending Bill
WASHINGTON, D.C. [06/11/2019]—Today, U.S. Senator Tina Smith (D-Minn.) and Congresswoman Ayanna Pressley (MA-07) lauded the House Appropriations Committee government spending package for including money for federal contract workers who were not paid during the 35-day partial government shutdown. Sen. Smith and Rep. Pressley introduced companion legislation in January to provide back pay to as many as an estimated 580,000 workers who went without pay during the shutdown. Their bill would require any federal contractor that placed service workers on unpaid leave during the shutdown to provide retroactive compensation to cover wages lost through no fault of their own. Since then,
U.S. Senator Tina Smith, Senate Colleagues Call on Department of Agriculture to Speed up Development of Crop Guidelines Established in Farm Bill
WASHINGTON, D.C. [05/07/19]—This week, U.S. Senator Tina Smith (D-Minn.) and a bipartisan group of her Senate colleagues—led by Sens. John Thune (R-S.D.) and Dick Durbin (D-Ill.)—urged the U.S. Department of Agriculture (USDA) to expedite the development of the cover crop guidelines that were established in the strong, bipartisan 2018 Farm Bill. Sen. Smith and her colleagues also requested that haying and grazing of cover crops on prevent plant acres be allowed prior to the current USDA-mandated November 1 harvest date. “According to the 2017 Census of Agriculture published last month, between 2012 and 2017, cover crops on
U.S. Senator Tina Smith: Affordable Housing, Rural and Native Areas Must Remain a Focus in Housing Finance Reform Discussions
WASHINGTON, D.C. [06/06/19]—Today, as Congress considers reforms to the nation’s housing finance system, U.S. Senator Tina Smith (D-Minn.) outlined her top priorities. In a letter to the nation’s top housing finance agency and leaders of the Senate Banking Committee—on which she serves—Sen. Smith pressed the officials to make sure any changes to the housing finance system support the affordable housing market and housing availability in rural areas, including on tribal lands. Following the Senate Banking Committee’s hearings on the housing finance system earlier this year and ongoing discussions about housing finance reform, Sen. Smith is fighting to preserve meaningful gains
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