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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
Sen. Tina Smith Supports Bipartisan Bill to Protect Robert Mueller from Being Fired for Political Reasons
Today, U.S. Senator Tina Smith said she supports a new legislative effort to insulate special counsel Robert Mueller—who’s in charge of the Trump-Russia investigation—from being fired by President Trump. By establishing an expedited judicial review process to scrutinize and even overturn the firing of a special counsel if such a dismissal happens without good cause, the Special Counsel Independence and Integrity Act would help ensure that the investigation into the Trump team’s ties to Russia remains free from political attacks. “Russia is a hostile foreign government that interfered in the 2016 presidential election with the goal of undermining our democracy. No
Sen. Tina Smith Introduces Bill to Deploy Broadband to Unserved Rural and Tribal Communities
Today, U.S. Senator Tina Smith introduced legislation—the Community Connect Grant Program Act—to establish the U.S. Department of Agriculture (USDA) program under law and make improvements to the grant program that makes funding available for broadband projects in tribal, low-income, and remote rural areas. The USDA Community Connect program through the Rural Utilities Service (RUS) helps fund broadband deployment into rural communities. In addition to authorizing the program and targeting areas that lack access across the nation, Sen. Smith’s bill would increase internet speed service under the program because she hears time and time again that this is a real concern for
Sen. Tina Smith Takes Stand for Minnesota Travelers Abandoned in Mexico by Sun Country Airlines
Today, U.S. Sen. Tina Smith took a stand for the Minnesota travelers who were effectively abandoned by Eagan-based Sun Country Airlines after the company cancelled return flights to the Twin Cities during the weekend snowstorm but failed to rebook or adequately refund the passengers. In a letter to the Department of Transportation sent today, she called on federal transportation officials to look into Sun Country’s failures and to explain what is being done to ensure that airline cancellation policies protect travelers. She also criticized Sun Country for how it mishandled the rebooking and refunding of passengers who have been forced
Klobuchar, Smith Demand Answers from Sun Country After Airline Cancels Flights and Strands Passengers in Mexico
WASHINGTON- U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) sent a letter to Sun Country Airlines CEO Jude Bricker to demand answers from the company after the airline cancelled flights from Los Cabos and Mazatlán, Mexico to Minneapolis-St. Paul International Airport (MSP) due to severe weather, leaving approximately 250 passengers in a foreign country without flight options. Because these flights were the last of the season, Sun Country consumers in Mexico had no alternative travel options. Consumers were forced to purchase last-minute, one-way tickets through alternative airlines in order to return to Minnesota. While consumers were compensated for the
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