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
Sen. Tina Smith Pushes to Help Schools Overcome Teacher Shortages in Minnesota, Across the Country
WASHINGTON D.C [07/31/19]—Today, U.S. Sen. Tina Smith (D-Minn.)—a member of the Senate Education Committee—reintroduced legislation to help schools and districts in Minnesota and across the country hit hard by teacher shortages. Sen. Smith is pushing the legislation because right now there are not enough teachers to meet the demand in all locations and in all fields, resulting in teacher shortages. More than 40 percent of the nation’s small, rural school districts struggle with adequately staffing their schools, and shortages are most acute in certain subject areas. There is a growing need for STEM, foreign language, and special education teachers. Additionally, there is a severe lack of racial diversity—nationwide teachers of color compromise only 18 percent of
TOMORROW: U.S. Senator Tina Smith Joins Patients, Fellow Lawmakers, and Advocates To Demand Bold Action to Bring Down Drug Prices
WASHINGTON, DC [07/25/19]—Tomorrow, U.S. Senator Tina Smith (D-Minn.) and patients from across the country will gather in front of the U.S. Capitol to demand bold action to lower prescription drug prices. Sen. Smith will be joined by fellow lawmakers, as well as advocates, to highlight the need for Congress to address this pressing issue. The press conference will occur right before the House Committee on Oversight and Reform holds a hearing with patients, titled “The Patient Perspective: The Devastating Impacts of Skyrocketing Drug Prices on American Families.” It also coincides with the Center for Popular Democracy’s patient bus trip to
U.S. Senator Tina Smith Again Calls on Top Trade and Foreign Agriculture Official to Provide Clear Answers on Effects Trade Restrictions on Cuba are Having on Minnesota, Nation
WASHINGTON, D.C. [07/25/19]—U.S. Senator Tina Smith (D-Minn.) believes in the importance of building relationships in foreign markets on behalf of Minnesota farmers—and farmers across the country—which is why today she again pressed the Department of Agriculture’s top trade and foreign agriculture official for more information regarding our nation’s trade with Cuba. Two years ago as Lieutenant Governor, Sen. Smith led an agricultural mission from Minnesota to Cuba. But since taking office President Trump has imposed several new restrictions on business with and travel to Cuba, making it even more difficult to build a strong trade relationship with Cuba going forward.
U.S. Sens. Tina Smith & Lisa Murkowski, U.S. Reps. Denny Heck & Sean Duffy Introduce Bipartisan Bill to Help Tribes Combat Homelessness in Minnesota, Nationwide
WASHINGTON, D.C. [07/25/2019]—Today, U.S. Senators Tina Smith (D-Minn.) and Lisa Murkowski (R-Alaska), along with U.S. Representatives Denny Heck (D-WA 10) and Sean Duffy (R-WI 7), introduced bipartisan companion bills in the Senate and House to make it possible for Tribes and tribally designated housing entities to access funding to combat homelessness on tribal lands. According to a study commissioned by the Department of Housing and Urban Development (HUD), there are between 42,000 and 85,000 homeless Native Americans living on tribal lands. Homelessness on tribal lands often leads to families moving in with neighbors—sixteen percent of American Indian and Alaska Native
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