Latest Releases
U.S. Senator Tina Smith Joins Elizabeth Warren, Banking Committee Democrats in Pressing SEC Chair to Require Disclosure of Corporate Lobbying Expenditures
Washington, D.C. — Today, U.S. Senators Tina Smith (D – Minn.), Sherrod Brown (D-Ohio.), Jon Tester (D-Mont.) and John Fetterman (D-Pa.) signed onto a letter led by Senator Elizabeth Warren (D – Mass.) urging Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), to create new rules requiring public companies to disclose their spending on lobbying efforts. Public companies are not currently required to report information on the details of their lobbying to the SEC even as corporate lobbying expenditures reach record highs. “In 2022, total federal lobbying expenditures reached $4.1 billion – the highest since 2010. Amazon and Meta spent almost $20 million each to influence decision-making in Congress and across government agencies, while the U.S. Chamber of Commerce – which counts companies like JPMorgan Chase, Alphabet, and Chevron among its members – spent $79.4 million,” wrote the senators. “While these figures are staggering, they provide little insight into the interests that companies spend millions each year to advance. This lack of transparency erodes the ability of everyday investors to make informed decisions about where to invest their money – and where their money goes once they have invested.” Specifically, the senators are requesting that such rules require disclosure of lobbying strategy, the total amount of direct or indirect contributions to registered state and federal lobbyists and any material risks related to or arising from lobbying strategies and expenditures. The senators requested the SEC provide them with details on their plans to develop and issue such rules no later than
U.S. Senators Tina Smith, Tom Cotton Reintroduce Bipartisan Legislation to Boost U.S. Pharmaceutical Manufacturing
WASHINGTON, D.C. — Today, Senators Tina Smith (D-MN) and Tom Cotton (R-AR) reintroduced bipartisan legislation to reduce dependence on foreign pharmaceutical manufacturing and boost production in the U.S. The pandemic exposed our nation’s dependence on other countries for essential prescription drugs. Seventy-seven percent of key pharmaceutical ingredients come from overseas, including from China, threatening the security of the supply chain and leading to shortages of essential prescription drugs. The American Made Pharmaceuticals Act would reduce our dependence on foreign countries for pharmaceuticals by boosting production here at home. The legislation would create federal incentives to onshore manufacturing of essential medicine, while taking steps to shore up links in the supply chain. “We know that depending on foreign countries for key resources – whether it’s oil or medicine – leaves us vulnerable to global supply chain shocks and shortages,” said Sen. Smith. “This bipartisan legislation would reduce our dependence on foreign pharmaceutical manufacturing and help boost production here at home. I look forward to getting this bill across the finish line so we can relieve prescription drug shortages and build more resilient supply chains.” “The Chinese Communist Party threatened to cut off America’s access to vital drugs during the pandemic,” said Sen. Cotton. “It’s time to bolster onshore manufacturing of pharmaceuticals to ensure Americans never have to rely on China for lifesaving medicine.” “Amneal applauds Senators Smith and Cotton on their targeted approach to increase pharmaceutical manufacturing here in the United States,” said Chirag Patel, President & Co-CEO of Amneal Pharmaceuticals. “Ensuring that
U.S. Senator Tina Smith Pushes for Service Members to Receive Owed Student Loan Benefits
WASHINGTON, D.C. [05/16/2019]—United States Senator Tina Smith (D-Minn.) is pushing to get servicemembers the student loan payments they have been incorrectly denied under existing law. In a letter to Acting Secretary of Defense Patrick Shanahan, Sen. Smith expressed her support for a proposed “matching agreement” with the Department of Education which would enable servicemembers to automatically get the refunds they are owed. The letter was led by Sens. Patty Murray (D-Wash.) and Elizabeth Warren (D-Mass.). “The new matching agreement should allow all eligible servicemembers and veterans-including those who were formerly eligible-to automatically receive refunds for any interest amounts that they
U.S. Senator Tina Smith Helps Push Bill to Ensure Pregnant Mothers Can Get Affordable Health Care Both During and After Pregnancy
WASHINGTON, D.C. [05/15/19]– U.S. Senator Tina Smith (D-MN) today joined an effort to ensure that all expectant mothers get the health care services they need both during and after pregnancy by cosponsoring the Healthy Maternal and Obstetric Medicine (Healthy MOM) Act. Sen. Smith said the measure would ensure that all women eligible for coverage through the Affordable Care Act insurance marketplaces, as well as women eligible for other individual or group health plan coverage, can access affordable health coverage throughout their pregnancies. Currently, marriage, divorce, having a baby, adoption and changing jobs are considered a qualifying life event that
U.S. Senator Tina Smith in Senate Speech: “Why I’m Sharing My Experience with Depression”
WASHINGTON, D.C. [05/15/19]—Today, U.S. Senator Tina Smith (D-Minn.) took to the Senate floor to share her own mental health story as part of her push to make access to mental health care for Minnesotans and Americans a top priority. In her speech, Sen. Smith—a member of the Senate Health Committee—shared her own experiences with depression earlier in life, and highlighted the need to provide mental health support to people at every age across the nation in both rural and urban areas, no matter what zip code they live in. “That’s my story. Really, it’s the story of millions of
U.S. Senator Tina Smith Calls for Action to Protect Homebuyers from Predatory Lending
WASHINGTON, D.C. [05/13/19]—U.S. Senator Tina Smith (D-Minn.) is calling on the Consumer Financial Protection Bureau (CFPB)—to improve protections for Minnesotans and Americans purchasing manufactured homes, after hearing from multiple consumer advocates that unwitting home buyers are often steered toward higher-cost loans. Sen. Smith—a member of the Senate Banking, Housing, and Urban Affairs—and eight of her Senate colleagues highlighted the lack of transparency manufactured homebuyers face when it comes to lending practices in a letter to CFPB Director Kathy Kraninger. The letter was led by Sen. Catherine Cortez Masto (D-Nev.). “Typically, the majority of consumers who have not
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