Latest Releases
U.S. Senator Tina Smith’s Bipartisan Legislation to Provide Transparency For Those Looking to Purchase Popular Long-Term Savings Vehicles Signed Into Law
WASHINGTON, D.C. – U.S. Senator Tina Smith (D-MN) announced her bipartisan legislation with Senator Thom Tillis (R-NC) to help provide transparency for consumers looking to purchase popular, long-term savings vehicles was signed into law as part of the bipartisan government funding bill. The law will help ensure that investors considering purchasing Registered Index Linked Annuities (RILAs) get clear and direct information that promotes investor understanding. “It’s more important than ever for consumers to have clear and concise information about their investments,” said Smith. “This legislation would help consumers looking to purchase RILAs by providing clear information about their potential investments in terms that they are able to understand. I hope this legislation will offer a model for how disclosures can and should be designed with consumers in mind. I am proud of our work to get this bill across the finished line and signed into law.” The sale of RILAs, which are tax-deferred, long-term investments often used for retirement, have grown rapidly in recent years. However, the lack of a tailored form for registering these products with the Securities and Exchange Commission (SEC) often results in long, dense disclosures that are incomprehensible to the typical purchaser. The Registration for Index-Linked Annuities Act offers a model for how disclosures can be designed with the needs of investors in mind. By directing the SEC to develop a tailored RILA registration form, the bill will help ensure that investors have the information they need to determine whether the product makes sense for their
U.S. Senator Tina Smith Announces Significant Federal Funding for Tribal Nations and the Native Community in the Twin Cities
WASHINGTON D.C. [1/13/23] –– U.S. Senator Tina Smith (D-Minn.) announced that she helped secure over $8.6 million for Minnesota Tribal Nations and communities in the Twin Cities metro area. These funds will support the Lower Sioux Indian Community, the Leech Lake Band of Ojibwe, the Shakopee Mdewakanton Sioux Community, the Prairie Island Indian Community, the Indian Health Board of Minneapolis, and the Native American Community Clinic. Senator Klobuchar also worked to secure this funding. “For too long, Native communities have experienced negative impacts of federal underinvestment and underfunding of critical services. I’m proud to have worked with Tribal leaders to help secure funding for projects that will address some of these disparities,” said Senator Smith. “These are significant investments that will increase access to Indigenous health services, expand Tribal housing opportunities, and invest in clean energy, carbon reduction, and protecting waters. I look forward to seeing all the good these projects will do for Minnesota’s Tribal and Native communities.” This federal funding will help further the following priorities: Expanding health care access and upgrading health care facilities: $2.25 million for the Indian Health Board in Minneapolis to support the Menaandawiwe Wellness Campus vision to provide traditional healing methods and establish a connection to nature for Native people living in the Twin Cities metro area. $1 million to expand the Native American Community Clinic’s capacity by adding ten additional medical rooms, five dental exam rooms, expanded laboratory and diagnostic services, and establish a better clinic flow to improve efficiency. $850,000 for the Leech Lake
Sen. Tina Smith Condemns Unchecked Dark Money in Politics, Calls for Legislation to Reform & Strengthen Campaign Finance Laws
U.S. Senator Tina Smith called on Congress to strengthen our nation’s campaign finance laws by ending the flood of unchecked, unlimited, and secret corporate money into our elections. Since the Supreme Court’s 2010 Citizens United v. FEC decision—which opened the door to unlimited corporate spending in politics—more than $600 million has been spent in federal elections without free and open information about where these millions are coming from. In response to the urgent need for campaign finance changes, Sen. Smith is cosponsoring two legislative reforms. The first would overturn Citizens United once and for all, and the second—the DISCLOSE Act—would require super PACs and other
Sen. Tina Smith Spends Weekend Working Hard for Minnesotans
U.S. Senator Tina Smith made stops across the state—which you can read more about here—including the Red River Valley, southern Minnesota, and the metro area to hear from Minnesotans and inform her work in Washington. “I’m so thankful to the Minnesotans I met with this weekend. Thank you for taking the time to talk with me about what matters most to you,” said Sen. Smith. “It is an honor to be able to take your stories back with me to Washington and continue to be a fierce advocate for all of you.” You can view pictures from Sen. Smith’s weekend and read
Sen. Tina Smith Fights against Financial Threats to MinnesotaCare
U.S. Senator Tina Smith is working hard in the Senate Health Committee to protect a vital program that provides high-quality, affordable care for more than 100,000 Minnesotans. Late last year, President Trump abruptly ended federal payments that help consumers afford their health insurance coverage. That decision drove up premiums across the country and produced significant confusion and financial losses in several states. Because of these cuts, and other actions taken by the Trump Administration, Minnesota is now on track to lose more than $806 million in total funding from its “Basic Health Program” (BHP)—also known as MinnesotaCare. Now the long-term
Sen. Tina Smith Says Minnesota Winter Olympians Will Put “Best of Our State” on World Stage
With the 2018 Winter Olympics kicking off in PyeongChang, South Korea, U.S. Senator Tina Smith said that she’s excited for the Winter Games to showcase Minnesota’s impressive delegation of athletes—the third most of any state in the country. “I’m so proud of the Minnesota Olympians who are getting ready to put the best of our state on display in South Korea,” said Sen. Smith. “I continue to be amazed that we’re sending 21 athletes to compete in the Winter Games—third most in the entire country—but I’m not all that surprised. Because often when you’re a Minnesotan, once your kids can walk, you bet
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