Latest Releases
U.S. Senators Tina Smith, Cynthia Lummis Introduce Bipartisan Legislation to Protect Prospective Homebuyers from Predatory Financing Agreements
WASHINGTON, D.C. – Today, U.S. Senators Tina Smith (D-MN) and Cynthia Lummis (R-WY) introduced the Preserving Pathways to Homeownership Act, bipartisan legislation to establish basic protections for consumers who seek to purchase a home using a land contract, or contract for deed. Land contracts are an alternative form of seller financing for real estate transactions, often marketed as a way for people who can’t get a conventional mortgage to realize the dream of owning a home. However, land contracts can lack many of the consumer protections available in mortgage lending: full disclosure of costs and fees, protections if a homeowner misses payments or falls on hard times, and protections in the case of fraud. Unscrupulous sellers have used these arrangements to take advantage of unsuspecting buyers. They design the land contract to fail and move to evict when the buyer inevitably breaches it. Buyers typically lose their home and everything they’ve invested in it, and the seller can repeat this process with other buyers. It is estimated that across the country, more than 8 million homes have been sold with land contracts, underscoring the widespread nature of this issue. “Without a safe, decent place to call home, nothing in your life works – not your job, your health, your education, or your family. It is appalling that some Minnesota families trying to pursue the dream of home ownership, who are struggling to receive traditional mortgages, whether due to their credit rating, or because the tenets of their faith preclude them from paying and profiting off
The Affordable Housing and Homeownership Protection Act Would Tackle Housing Crisis by Creating Millions More Homes and Helping Main Street Compete with Wall Street
WASHINGTON, DC – As the nation’s housing shortage pushes home prices and rents to historic levels, a new Senate bill would provide tens of billions of dollars to help create millions of new homes for low-income Americans. U.S. Senators Tina Smith (D-MN), Jack Reed (D-RI)and Tammy Baldwin (D-WI) are teaming up with several colleagues to introduce the Affordable Housing and Homeownership Protection Act (S. 3673). This bill would generate up to $50 billion over ten years to help build and preserve approximately 3 million affordable housing units nationwide. The bill would be fully paid for through a transfer tax on large investors who profit by purchasing sixteen single-family homes or more. Driven by a shortage of as many as 6.8 million homes nationwide, homes prices have surged 39% and rents 31% over the last four years, according to the National Association of Realtors and Zillow. Higher rents and fewer opportunities for homeownership are devastating for millions of families. As housing costs skyrocket, more households are priced out of homeownership, while renters have less to spend on food, clothing, and other everyday necessities. Low-income Americans are particularly strained – the National Low Income Housing Coalition estimates 73% of extremely low-income households spend more than half their income on housing. Unsurprisingly, homelessness has risen in line with housing prices and is up 15% since 2019. Unfortunately, federal investments in low-income housing are insufficient to solve this affordability crisis. Indeed, researchers at Harvard University found that the three largest federal housing programs serve nearly
U.S. Sen. Tina Smith: USDA Shortchanged MN Farmers When Distributing Billions to Compensate for President’s Damaging Trade War
Washington, DC [09/15/2020]– U.S. Senator Tina Smith (D-Minn.), a member of the Senate Agriculture Committee, said findings from a newly released investigation by the non-partisan Government Accountability Office (GAO) found that the Trump Administration shortchanged farmers in Minnesota and several other states outside of the South when it distributed billions of dollars in aid to partially compensate producers for the significant losses they suffered under the President’s damaging trade wars. Senator Smith said the report, released Monday, found that the U.S. Department of Agriculture (USDA) not only funneled more money to farmers in southern states, but also favored large operations over
U.S. Senators Amy Klobuchar, Tina Smith Announce $929 Million Grant for Southwest Light Rail
Washington, DC [09/14/2020]–Today Senators Amy Klobuchar and Tina Smith (D-Minn.) announced a $928.8 million Federal Transit Administration grant for the Southwest Light Rail. Once completed, the 14.5-mile, 16-station extension of the METRO Green Line will connect downtown Minneapolis to Eden Prairie, serving residents in Minneapolis, St. Louis Park, nearby Edina, Hopkins, Minnetonka and Eden Prairie. The $2.003 billion project will be the largest public infrastructure project in the state’s history. The Senators said the project will provide a significant economic boost to the region, both during construction when it creates jobs, as well as afterward when it will carry thousands of passengers to work, shopping and other venues
U.S. Senators Tina Smith, Amy Klobuchar Working to Provide Relief to Northwest Angle Businesses
Washington, DC [09/11/2020]– Senators Tina Smith and Amy Klobuchar (D-Minn.) introduced legislation to provide relief to Minnesota businesses in the Northwest Angle that are hurting due to coronavirus (COVID-19) travel restrictions between the United States and Canada. The Remote Recreational Small Business Interruption Program Act would provide forgivable loans to small businesses in exclaves of the contiguous United States near the Canadian border. In order to safely reach the Northwest Angle, Americans must travel through Canadian territory by automobile at a border crossing. The alternative is a 40 mile boat trip across Lake of the Woods. Sens. Smith and Senator Klobuchar have urged cooperation between the U.S. and Canadian governments to find solutions to
U.S. Senators Tina Smith & Lisa Murkowski Introduce Bipartisan Legislation to Help Tribes Combat COVID-19, Other Public Health Crises
WASHINGTON, D.C. [09/10/2020]—Today U.S. Senators Tina Smith (D-Minn.) and Lisa Murkowski (R-Alaska) introduced bipartisan legislation to help Tribes access public health data and address health disparities that hit American Indian and Alaska Native (AI/AN) communities especially hard. The Tribal Health Data Improvement Act would strengthen data sharing between Tribes, Tribal Epidemiology Centers and the Centers for Disease Control and Prevention (CDC) so Tribes can more effectively address public health challenges. Tribes and Tribal Epidemiology Centers are routinely denied access to important health data systems, despite having clearance to do so. Accessing federal and state public health data is critical for engaging in preventative public health work and combatting current health crises. Structural barriers to accessing data have been especially problematic during COVID-19, which has disproportionately
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