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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 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
Senator Smith, Colleagues Introduce Legislation to Help Make College Textbooks More Affordable
WASHINGTON – Today, U.S. Senators Tina Smith (D-MN), Dick Durbin (D-IL), Angus King (I-ME), and Kyrsten Sinema (I-AZ), along with U.S. Representative Joe Neguse (D-CO-02) introduced bicameral legislation designed to help students manage costs by making high quality textbooks easily accessible to students, professors, and the public for free. The Affordable College Textbook Act would authorize a competitive grant program to support the creation of and expansion of open college textbooks—textbooks that are available under an open license, allowing professors, students, researchers, and others to freely access the materials. “Textbooks are a key part of a college education – but for too many students, their cost is exorbitant and a real strain on their budgets,” said Smith. “In Minnesota, we’ve seen how free, open access textbooks can make a huge difference and save students money—and I want more students to reap these benefits. This bill is a critical step in the effort to lower the cost of college for students.” “Students already are facing momentous barriers to obtaining a college education because of the rising costs of tuition. On top of this, students are expected to shell out additional dollars to purchase expensive, required textbooks for their coursework,” said Durbin. “Open textbooks are a tried and true way to save students money while ensuring they have access to quality instructional materials. I’m introducing the Affordable College Textbook Act again to support students pursuing higher education.” “Textbooks are a central part of a college education – but for students already struggling to
U.S. Senator Tina Smith, Senate Democratic Colleagues Push Measure to Protect Elections from Foreign Interference
WASHINGTON, D.C. [06/20/19]—U.S. Senator Tina Smith (D-Minn.) is pressing for the protection of our elections from foreign interference by pushing a measure to require candidates, campaign officials, and their family members to notify law enforcement if offered illegal assistance by a foreign national. Sen. Smith—along with a number of her Senate colleagues—filed an amendment to the Fiscal Year 2020 National Defense Authorization Act (NDAA) to impose a legal duty on campaigns, candidates, candidates’ family members, and PACs to report offers of assistance from foreign nationals—including material, non-public information—to the Federal Election Commission (FEC) and the FBI. The legislation also
U.S. Sens. Tina Smith, Todd Young Introduce Bipartisan Legislation to Push Coordinated “One Health” Approach to Improve Public Health Preparedness
WASHINGTON, D.C. [06/19/19]—Today, U.S. Senators Tina Smith (D-Minn.) and Todd Young (R-Ind.) introduced their bipartisan Advancing Emergency Preparedness Through One Health Act, which would improve public health preparedness by ensuring federal agencies advance a “One Health” approach—the idea that human and animal health are linked, and that they should be studied together—to prevent and respond to disease outbreaks. The bill would improve coordination among those studying animal and human health by requiring the Department of Health and Human Services (HHS) and the Agriculture Department (USDA) to adopt a One Health framework with other agencies. “Minnesota was hit by an
U.S. Senators Amy Klobuchar, Tina Smith Say Minnesota Dairy Producers Can Sign up for Improved Dairy Margin Coverage Starting June 17
WASHINGTON, D.C. [06/17/2019]—U.S. Senators Amy Klobuchar and Tina Smith (D-Minn.)—both members of the Senate Agriculture Committee—said starting June 17, Minnesota dairy producers are eligible to sign up for the new Dairy Margin Coverage (DMC) program, which helps dairy producers more affordably manage the volatility of milk and feed prices. The senators encouraged producers to sign up at their local Farm Service Agency (FSA) office. Sens. Klobuchar and Smith said the new DMC program replaces the old Margin Protection Program (MPP), and offers higher coverage levels at more affordable rates for small and medium-sized dairy farms, along with greater flexibility in
U.S. Senator Tina Smith, Bipartisan Group of Indian Affairs Committee Senators Introduce Bill to Address Law Enforcement, Public Safety Needs in Native Communities
WASHINGTON, D.C. [06/14/2019]—U.S. Senator Tina Smith (D-Minn.) and a bipartisan group of her colleagues on the Senate Indian Affairs Committee—led by Vice Chairman Tom Udall (N.M)—this week introduced the Bridging Agency Data Gaps & Ensuring Safety (BADGES) for Native Communities Act, which would address critical public safety needs in Indian Country. The bill aims to address federal inefficiencies that hurt Bureau of Indian Affairs law enforcement recruitment and retention, increase the effectiveness of federal missing persons resources, and give Tribes and States resources to coordinate responses to the Missing and Murdered Indigenous Women (MMIW) crisis. In addition to Sens. Smith
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