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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 Says Bipartisan Measure She Helped Push Through Senate Education Committee Will Improve How Schools Prepare Students for 21st Century Jobs
WASHINGTON, D.C [06/27/18]—U.S Senator Tina Smith (D-Minn) said today that a bipartisan measure she helped push through the Senate Education Committee will help schools in Minnesota and across the country better prepare students for 21st century jobs. The bill, which passed unanimously Tuesday, would modernize the current Carl D. Perkins Career and Technical Education (CTE) Act to better provide students with technical training and workforce skills. “I’ve met with teachers, students, administrators, as well as business and industry leaders across Minnesota who understand that in our changing economy we need to improve how we prepare students for 21st Century jobs,” Sen. Smith said. “This
Sen. Tina Smith Says Bipartisan Measure She Helped Push Through Senate Education Committee Will Improve How Schools Prepare Students for 21st Century Jobs
WASHINGTON, D.C [06/27/18]—U.S Senator Tina Smith (D-Minn) said today that a bipartisan measure she helped push through the Senate Education Committee will help schools in Minnesota and across the country better prepare students for 21st century jobs. The bill, which passed unanimously Tuesday, would modernize the current Carl D. Perkins Career and Technical Education (CTE) Act to better provide students with technical training and workforce skills. “I’ve met with teachers, students, administrators, as well as business and industry leaders across Minnesota who understand that in our changing economy we need to improve how we prepare students for 21st Century jobs,” Sen. Smith said. “This
Sen. Tina Smith’s Statement on Supreme Court’s Latest Labor Union Decision
WASHINGTON, D.C. [06/27/18]—Today, U.S. Senator Tina Smith (D-Minn.) released the following statement after the Supreme Court released their 5-4 decision on the Janus labor union case. “I believe that workers have a fundamental right to join together to fight for fair wages and better working conditions,” said Sen. Smith. “I’m deeply disappointed in today’s Supreme Court decision to weaken this key protection for teachers, firefighters, nurses, and other public sector employees. We must now renew our commitment to fight against far-right, corporate-funded, special interests which backed this case—and continue to defend working families in Minnesota and across the country.” ###
Sen. Tina Smith on Supreme Court Justice Kennedy’s Retirement: “Pivotal Moment in Our Country”
WASHINGTON, D.C. [06/27/18]—Today, while delivering a speech on the Senate floor, U.S. Senator Tina Smith made the following statement on Justice Kennedy’s retirement announcement. You can access video of her remarks here. “This is a pivotal moment in our country. With Justice Kennedy’s retirement announcement today, the stakes have never been higher for making sure we choose a Supreme Court justice committed to the constitution and protecting the most fundamental rights of Americans—the right to vote, the ability to organize, a woman’s right to choose. And whomever replaces Justice Kennedy will no doubt have a say on issues that affect the
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