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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
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
Sen. Tina Smith Announces Ag Working Group ahead of Upcoming Farm Bill Debate
U.S. Senator Tina Smith announced the members of her newly-formed Ag Working Group who will help make sure Minnesota priorities are included in the upcoming debate over the federal Farm Bill. “I fought for a spot on the Senate Agriculture Committee because agriculture is the foundation of Minnesota’s economy,” said Sen. Smith. “As we move into this year’s Farm Bill debate, I plan to push Minnesota priorities after hearing from as many Minnesota experts as possible. My new Ag Working Group will bring together Minnesotans with a deep understanding of farm policy and how it impacts our state’s producers, businesses, and communities. They’ll
Sen. Tina Smith Helps Introduce Legislation to Prepare Minnesota Students & Workers for High-Skill, In-Demand Jobs
U.S. Senator Tina Smith helped introduce legislation to tackle the nation’s “skills gap” by expanding partnerships that train students and workers for open, good-paying jobs in fields like manufacturing, health care, clean energy, and IT. Based on successful models that already exist in Minnesota and across the country, the Community College to Career Fund Act (CC2C) would bring together technical colleges, community colleges, and local businesses to prepare people for jobs that are in high demand. “My first official stop in Minnesota after becoming Senator was at Wyoming Machine, a local sheet metal fabricator that’s doing great things,” said Senator Smith, a
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