Latest Releases
U.S. Senator Tina Smith Releases New Report on Solutions to the Home Insurance Crisis
WASHINGTON – Today, U.S. Senator Tina Smith (D-MN), the lead Democrat on the Senate Housing Subcommittee, released a new report, Bold Solutions to the Home Insurance Crisis. It examines the nationwide crisis of rising home insurance costs, the role of climate-change-driven extreme weather events, and policy solutions that would tackle this affordability crisis. Across the country, Americans are increasingly facing unaffordable home insurance bills or aren’t able to access coverage at all. Insurers have significantly increased their rates, pushing up home insurance premiums an average of 45% since 2019. Sixteen years ago, home insurance was much more affordable and cost only 5% of the typical monthly mortgage payment. But these costs have now more than doubled to more than 10% of a typical mortgage payment, even as mortgage costs have also surged. Former Federal Reserve Chair Jerome Powell emphasized the risk we face in response to Sen. Smith’s questioning during a Senate Banking Committee hearing, saying that “If you fast-forward 10 or 15 years, there are going to be regions of the country where you can’t get a mortgage” due to insurance companies pulling out of high-risk areas. Minnesotans have been particularly hit hard by rate increases. Last year, Minnesota home insurance rates increased 34%, which was the largest increase of any state, according to reports. These problems, Sen. Smith argues, are driven by the growing strength and severity of disasters due to climate change and an insurance industry motivated more by profits than protecting its customers. To address the problem, Sen. Smith lays out more than two dozen policy options that Washington can consider, ranging from those that lower physical risks for homeowners and communities, to wholesale alternatives to our current, private home insurance system. You can read the full report HERE: · Senator Smith’s opening letter here · An executive summary here “Owning a home has always been part of the American dream. But for too many families today, that dream feels further out of reach than ever before. Without affordable insurance, mortgages may become harder to get, home values
U.S. Senators Tina Smith, Dave McCormick, Ruben Gallego and Thom Tillis Introduce Bipartisan Legislation to Extend the Terrorism Risk Insurance Program for Seven Years
WASHINGTON, DC – Today, U.S. Senators Tina Smith (D-MN), Dave McCormick (R-PA), Ruben Gallego (D-AZ), and Thom Tillis (R-NC) introduced the bipartisan Terrorism Risk Insurance Program Reauthorization Act of 2026, which is essential to economic security by safeguarding the availability of terrorism risk coverage. This legislation is also cosponsored by Senators Britt (R-AL), Van Hollen (D-MD), Crapo (R-ID), Cortez Masto (D-NV), Kennedy (R-LA), Schumer (D-NY), Moreno (R-OH), Kim (D-NJ), Ricketts (R-NE), Alsobrooks (D-MD), Warnock (D-GA) and Blunt-Rochester (D-DE). Following the attacks on September 11, 2001, most states began allowing terrorism risk to be excluded from commercial insurance policies, leaving businesses and industries without access to coverage. Since insurance is a precondition for commercial lending and real estate transactions, this gap in coverage threatened broad economic damage across real estate, construction, energy, transportation, and related industries. Congress responded by passing the Terrorism Risk Insurance Act of 2002 (TRIA), creating a federal reinsurance backstop to stabilize the private market and ensure that commercial policyholders could continue to obtain terrorism risk coverage. The private insurance market has relied on the TRIA backstop ever since. When TRIA briefly lapsed in December 2014, terrorism exclusions that insurers had pre-filed with state regulators took effect automatically, making terrorism coverage effectively unavailable across commercial policies nationwide. As a result, terrorism risk coverage was removed from policyholders immediately and without notice. Given that the current threat landscape remains elevated, allowing a similar lapse in terrorism coverage would expose policy holders to unnecessary financial risk and uncertainty. “The Terrorism Risk Insurance Program is critical to keeping insurance available and affordable to businesses in Minnesota and across the country so they can grow and create jobs,” said Senator Smith. “Without this bill, a potential terrorism event would mean a financial catastrophe for many businesses and would be extremely costly to taxpayers.
U.S. Senators Amy Klobuchar and Tina Smith Cosponsor Legislation Requiring Airlines to Reimburse Passengers for Delays, Rebooking Fees & Related Expenses After Trump Cancels Consumer Protections
WASHINGTON, D.C. — U.S. Senators Amy Klobuchar and Tina Smith (both D-MN) helped introduce legislation to protect flyers by requiring airlines to provide cash compensation and free rebooking for passengers facing significant delays or cancellations caused by the airline. The bill comes just in time for the holiday season which is expected to see record numbers of travelers. Early estimates project a record 8.03 million travelers will take domestic flights this holiday season, a 2.3% increase compared to last year. This would mark the first time in history that number tops 8 million. “It’s simple: if your flight is canceled
U.S. Senator Tina Smith Introduces Bipartisan Bill to Improve Access to Mental Health Clinics
WASHINGTON, D.C. – U.S. Senator Tina Smith (D-MN) introduced the Ensuring Excellence in Mental Health Act, which would improve access to mental health services nationwide. This bill would make it easier for seniors on Medicare to get care at Certified Community Behavioral Health Clinics (CCBHCs), specialized clinics that provide mental health and substance use services. The bill would also ensure that these specialized clinics can continue to provide quality care to patients by ensuring that they receive adequate reimbursements from Medicaid. “Everybody deserves access to mental health care, regardless of their zip code,” said Senator Tina Smith. “Certified Community Behavioral
U.S. Senator Tina Smith’s Statement on President Trump’s Targeting of Somalis in Twin Cities
WASHINGTON, DC – Today, U.S. Senator Tina Smith (D-MN) released the following statement in response to reporting that President Trump is directing Immigration and Customs Enforcement (ICE) to launch a raid targeting the Somali community in the Twin Cities: “When Donald Trump calls all Somalis ‘garbage’, he’s talking about the people who run your favorite deli in Minneapolis, the nurse who takes care of you at the hospital, the home health aide looking after your aging parent, the military veteran who served this country, your local and federal elected leaders, and hardworking patriotic American taxpayers who came to this country legally. “I
U.S. Senator Tina Smith Statement on Federal Operation in St. Paul
ST. PAUL, MN – Today, U.S. Senator Tina Smith (D-MN) released the following statement on the federal operation in St. Paul: “We’re still gathering information about what happened in St. Paul, but what we do know is that once again, federal authorities provided no notice to local leaders or law enforcement. This is their playbook: no warning, no transparency, no coordination. Their goal here isn’t safety, it’s to sow chaos, fear, and intimidation. Minnesotans deserve answers.”
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