Latest Releases
U.S. Senator Tina Smith’s Bipartisan Legislation to Extend Terrorism Risk Insurance, Support Housing Construction Passes Banking Committee
Roughly 60 percent of American businesses have terrorism risk insurance, which is critical to major construction projects WASHINGTON, D.C. – U.S. Senator Tina Smith’s bipartisan legislation to safeguard the availability of terrorism risk insurance coverage passed the Senate Banking Committee by a unanimous vote. Roughly 60 percent of American businesses have terrorism risk insurance, which could become unavailable without action by Congress. Sen. Smith (D-MN) leads the Terrorism Risk Insurance Program Reauthorization Act of 2026 alongside Senators Dave McCormick (R-PA), Ruben Gallego (D-AZ), and Thom Tillis (R-NC). Following the attacks on September 11, 2001, many insurance companies began excluding terrorism risks 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. “Without
U.S. Senators Smith, Baldwin & Murphy Reintroduce Bill to Support Young Farmers, Forgive Student Loan Debt
WASHINGTON, D.C. – U.S. Senators Tina Smith (D-MN), Tammy Baldwin (D-WI) and Chris Murphy (D-CT) reintroduced the Student Loan Forgiveness for Farmers and Ranchers Act, legislation to create a loan forgiveness program for beginning farmers and ranchers, as well as veteran, women and minority farmers. Beginning farmers are considered those who have less than 10 years of experience operating a farm. The ag industry will soon see major shifts in farm ownership with more than one-third of American farmers being 65 years old or older. Student loan debt is among the largest obstacles America’s young farmers face, placing an enormous financial strain on beginner farmers and discouraging others from pursuing careers in the agricultural industry. Unforgiven student debt has a disproportionate impact on the farming industry. The Student Loan Forgiveness for Farmers and Ranchers Act would grant these farmers the support they need to invest in their farms and ranches and incentivize a new generation of farmers to enter the agricultural industry. “To keep Minnesota’s agriculture economy thriving, we need to continue to invest in the next generation of farmers as the average age of farmers keeps going up. There is more we can be doing to help future farmers fill their shoes,” said Sen. Smith. “Student debt is one of the most significant challenges our young farmers and ranchers face. This legislation would help encourage a younger, more diverse workforce and help more people start and stay in farming.” “Wisconsin farmers work hard to feed our families, support our rural economies, and
Statement from U.S. Senator Tina Smith After Voting Against Markwayne Mullin for Secretary of Homeland Security
WASHINGTON – U.S. Senator Tina Smith (D-MN) released the following statement after voting against confirming U.S. Senator Markwayne Mullin (R-OK) to lead the Department of Homeland Security after the firing of Former Secretary Kristi Noem. “Tonight I voted against the confirmation of Senator Mullin to lead the Department of Homeland Security because I do not have confidence that Senator Mullin will change the Trump Administration’s reckless, dangerous and illegal immigration enforcement activity,” said Senator Smith. “Minnesota has paid a heavy price from Operation Metro Surge, and it will take us a long time to recover. Two of our citizens, Alex Pretti and
U.S. Senator Tina Smith on Release of Blatnik Bridge Replacement Funding
WASHINGTON, DC –Today, U.S. Senator Tina Smith (D-MN) released the following statement after it was announced the U.S. Department of Transportation is releasing the funding necessary to begin construction to replace the Blatnik Bridge: “Any delay in the Blatnik Bridge replacement project would’ve been incredibly costly to Minnesota and Wisconsin, to the tune of millions of dollars,” said Senator Smith. “Releasing this funding now means this project can move forward on schedule – and Minnesota taxpayers won’t have to pay more for the same bridge. I’m grateful the Administration heeded our calls to release this money and I’m looking forward to seeing construction completed
U.S. SENATOR TINA SMITH’S BIPARTISAN LEGISLATION INCLUDED IN LANDMARK HOUSING PACKAGE THAT PASSED THE UNITED STATES SENATE
WASHINGTON, D.C. – U.S. Senator Tina Smith (D-MN), the top Democrat on the Senate Housing Subcommittee, announced that one of her major bipartisan bills aimed at combatting America’s housing crisis was included in a package that passed the Senate in an 89-10 vote. Senator Smith’s bipartisan Rural Housing Service Reform Act was included in the 21st Century ROAD to Housing Act, the first comprehensive housing supply legislation in 30 years. “Without a safe, affordable place to live, nothing else in your life works. The lack of decent housing in this country is a choice that we’re making, but with this
U.S. Senator Tina Smith Introduces Bill to Strengthen Teacher Workforce
Washington, DC — This week, U.S. Senator Tina Smith (D-MN) introduced the Addressing Teacher Shortages Act, bicameral legislation to help schools recruit, prepare and retain educators amid the ongoing teacher shortage. The bill is co-led in the House of Representatives by Congresswomen Haley Stevens (D-MI) and Jahana Hayes (D-CT). In Minnesota, 84% of school districts report being affected by teacher shortages, and nearly one in four licensed teachers in Minnesota isn’t working in a classroom. Among those who do, almost one-third of new teachers leave the profession within five years. “Building a stronger education system is one of the smartest investments we
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