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 Invites Treasury Secretary Mnuchin to Tour Rural Minnesota Communities Hit Hard By Slumping Farm Economy
WASHINGTON, D.C. [10/24/19]—Today, U.S. Senator Tina Smith (D-Minn.) formally invited Secretary of the Treasury Steven Mnuchin to tour rural Minnesota communities and hear firsthand from farmers and producers about their concerns regarding uncertainty in the agriculture sector. Sen. Smith said she appreciates the recent conversations she’s had with Sec. Mnuchin about trade negotiations and the challenges faced by agriculture producers. She said the visit would help Sec. Mnuchin gain important insights into how the federal government can help create economic growth in rural communities. “Minnesota farmers are facing unprecedented challenges, with tariffs, plummeting commodity prices, and this year’s extreme weather
U.S. Sens. Tina Smith, Lisa Murkowski Introduce Bipartisan Bill to Strengthen Health Care Services for Native American Elders
WASHINGTON, D.C. [10/24/2019]—U.S. Senators Tina Smith (D-Minn.) and Lisa Murkowski (R-Alaska)—both members of the Senate Indian Affairs Committee—introduced a bipartisan bill to expand health care services to Native American elders in Minnesota, Alaska and across the country. The Strengthening Services for Native Elders Act would help tribal organizations provide a wider range of home and community-based health services to American Indian and Alaska Native (AIAN) elders, including transportation, case management, and health and wellness programs. Right now there are more than 26 million AIAN adults over age 65 living in the United States and too many are facing significant health disparities. These elders are more likely to confront mortality at a younger age, and have higher mortality rates
U.S. Senators Smith, Brown, Van Hollen, Kaine, Cardin & Warner Continue Fight to Secure Back Pay From Last Government Shutdown for Federal Contractor Employees
WASHINGTON, D.C. [10/24/19]—U.S. Senator Tina Smith (D-Minn.)—along with Sens. Sherrod Brown (D-Ohio), Chris Van Hollen (D-Md.), Mark Warner (D-Va.), Ben Cardin (D-Md.), and Tim Kaine (D-Va.)—is making good on a promise to keep fighting to secure back pay for federal contractor employees who went without pay during the last government shutdown. The Senators filed an amendment to Senate appropriations measures that would provide those low-wage workers with back pay. Sen. Smith and her colleagues say it is unacceptable that Majority Leader Mitch McConnell (R-Ky.) took out back pay language from the House-passed appropriations bills, and they are working to right that
U.S. Sen. Tina Smith Seeks Young Minnesotans Interested In Attending a U.S. Service Academy
MINNESOTA [10/24/19]—U.S. Sen. Tina Smith’s (D-Minn.) office is now accepting applications from young Minnesotans interested in attending one of the nation’s four service academies, including the U.S. Military Academy at West Point, the U.S. Naval Academy, the U.S. Air Force Academy, and the U.S. Merchant Marine Academy. In order to attend a service academy, candidates must be nominated by a member of Congress, or other applicable nominating source. Applications are due by 5 pm on Friday, November 1. “As Senator, I am proud to be able to nominate talented Minnesotans to our four U.S. Service Academies, where they can prepare to be future leaders in our nation’s military,” said Sen. Smith. “I’m happy to assist eligible Minnesotans in the nomination process,
English