Latest Releases
U.S. Senator Tina Smith Applauds Senate Passage of Her Bipartisan Bill to Help Small Businesses Access Capital, Create Jobs in Rural America
WASHINGTON – U.S. Senator Tina Smith (D-MN) applauded the Senate’s passage of her bipartisan Expanding Access to Capital for Rural Job Creators Act. The legislation, which is co-led by Senator John Kennedy (R-LA), would help eliminate hurdles small businesses in rural areas disproportionately face when they try to access capital. “Access to capital is essential to the economic health and growth of rural communities in Minnesota and across the country,” said Sen. Smith. “Rural small businesses often face disproportionate obstacles when trying to secure capital to develop and grow their businesses. This legislation would help rural small businesses overcome these hurdles and strengthen our rural economies.” Access to capital is critical for starting and expanding rural small businesses, which often face a disproportionate number of obstacles when seeking capital investment. This bipartisan legislation, the Expanding Access to Capital for Rural Job Creators Act, would require the Securities and Exchange Commission to submit annual reports on the unique challenges small businesses in rural areas face when trying to secure capital. The report would outline roadblocks and identify solutions to ensure rural small businesses, and the local economies they support, are able to develop and grow. Senators Gary Peters (D-MI), Raphael Warnock (D-GA), Shelley Moore Capito (R-WV) and Jacky Rosen (D-NV) also cosponsored the legislation.
U.S. Senator Tina Smith’s Legislation to Tackle Drug Shortages, Improve Public Health Preparedness Advances Through Key Committee
WASHINGTON, D.C. [8.4.23] –U.S. Senator Tina Smith (D-MN) announced that two of her legislative priorities, aimed at addressing drug shortages and improving public health preparedness, took a major step forward. “Drug shortages are hurting patients, pharmacists, and physicians across the country,” said Senator Smith. “I have heard directly from Minnesotans who are facing shortages of ADHD medications like Adderall, cancer-fighting drugs for chemotherapy, among other things. These drug shortages can be life-threatening, and I’ve made it a priority to tackle this problem. In addition, I’m focused on ensuring we are prepared for future public health threats. My bipartisan legislation will improve the FDA’s responsiveness when medication demand outpaces the supply, and help improve our ability to rapidly develop and distribute diagnostic tests in the event of a disease outbreak. I’m glad to see these priorities included in this important legislation.” The Pandemic and All-Hazards Preparedness and Response Act is essential legislation that reauthorizes key public health and emergency preparedness programs. Current funding expires on September 30th. Millions of Americans have been affected by shortages of chemotherapy drugs, commonly-used antibiotics, pediatric formulations of medications like ibuprofen, and other essential drugs. Pieces of Senator Smith’s legislation, which have been included in the reauthorization, will help address these shortages and bolster public health preparedness. Senator Smith’s provisions include:
Sen. Tina Smith Named to Bipartisan Select Committee to Solve Pensions Crisis Facing 22,000 Minnesotans
Sen. Tina Smith was appointed to a newly formed bipartisan panel tasked with finding solutions to a financial crisis that’s threatening the hard-earned pensions of 22,000 retired Minnesotans. The Joint Select Committee on Solvency of Multiemployer Pension Plans, established as part of the bipartisan budget agreement reached earlier this month, will provide recommendations and legislative language to significantly improve the solvency of multiemployer pension plans and the Pension Benefit Guaranty Corporation. Without reforms, as many as 100 pension plans across the country—including the troubled Central States Pension Fund, which covers those 22,000 Minnesotans—are on track to become insolvent. “There are
Sen. Tina Smith’s First Bill Would Address Unscrupulous Big Pharma Tactic That Prevents Minnesotans from Accessing Affordable Rx Drugs
U.S. Senator Tina Smith’s first standalone piece of legislation—the Expanding Access to Low Cost Generic Drugs Act—takes aim at a big pharma tactic that keeps affordable generic drugs out of the hands of Minnesota families and seniors. Sen. Smith’s bill, which she introduced today and is similar to a policy endorsed by the Trump Administration, gets at the heart of a major concern facing Minnesota families and seniors right now: prescription drug prices. We’re at the point now where around 25 percent of Americans who take prescription drugs report difficulty affording them. And while generic drugs are often a much less
Sen. Tina Smith Questions Five Big Pharma CEOs on Use of Corporate Tax Savings
Today, U.S. Senator Tina Smith questioned a group of major pharmaceutical executives on how they are using billions of their corporate tax cut dollars, expressing concern that the companies may be using the funds to enrich investors through stock “buybacks” and shareholder payouts instead of prioritizing lower prescription drug prices. The Tax Cuts and Jobs Act, signed into law in December, reduced the corporate income tax rate by over 40 percent, providing these companies with a large windfall of corporate tax savings that could be used to bring down costs for consumers or invest in new research and development. However,
Sen. Tina Smith Calls for 2018 Federal Funding Bill to Invest in Minnesotans
As the Senate works on this year’s federal spending bill—often referred to as the appropriations process—U.S. Senator Tina Smith is fighting to prioritize investments in Minnesota families, seniors, and communities. The bill is expected to be released later this month. In a letter sent to leaders of the Senate Appropriations Committee, Sen. Smith said “I look forward to working with you throughout the appropriations process to provide strong funding for programs that support the health, education, safety, and prosperity of Minnesotans.” You can read a full list of her priorities here or below: Dear Chairman Cochran and Vice Chairman Leahy: As the
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