Latest Releases
U.S. Senator Tina Smith Joins Elizabeth Warren, Banking Committee Democrats in Pressing SEC Chair to Require Disclosure of Corporate Lobbying Expenditures
Washington, D.C. — Today, U.S. Senators Tina Smith (D – Minn.), Sherrod Brown (D-Ohio.), Jon Tester (D-Mont.) and John Fetterman (D-Pa.) signed onto a letter led by Senator Elizabeth Warren (D – Mass.) urging Gary Gensler, Chair of the U.S. Securities and Exchange Commission (SEC), to create new rules requiring public companies to disclose their spending on lobbying efforts. Public companies are not currently required to report information on the details of their lobbying to the SEC even as corporate lobbying expenditures reach record highs. “In 2022, total federal lobbying expenditures reached $4.1 billion – the highest since 2010. Amazon and Meta spent almost $20 million each to influence decision-making in Congress and across government agencies, while the U.S. Chamber of Commerce – which counts companies like JPMorgan Chase, Alphabet, and Chevron among its members – spent $79.4 million,” wrote the senators. “While these figures are staggering, they provide little insight into the interests that companies spend millions each year to advance. This lack of transparency erodes the ability of everyday investors to make informed decisions about where to invest their money – and where their money goes once they have invested.” Specifically, the senators are requesting that such rules require disclosure of lobbying strategy, the total amount of direct or indirect contributions to registered state and federal lobbyists and any material risks related to or arising from lobbying strategies and expenditures. The senators requested the SEC provide them with details on their plans to develop and issue such rules no later than
U.S. Senators Tina Smith, Tom Cotton Reintroduce Bipartisan Legislation to Boost U.S. Pharmaceutical Manufacturing
WASHINGTON, D.C. — Today, Senators Tina Smith (D-MN) and Tom Cotton (R-AR) reintroduced bipartisan legislation to reduce dependence on foreign pharmaceutical manufacturing and boost production in the U.S. The pandemic exposed our nation’s dependence on other countries for essential prescription drugs. Seventy-seven percent of key pharmaceutical ingredients come from overseas, including from China, threatening the security of the supply chain and leading to shortages of essential prescription drugs. The American Made Pharmaceuticals Act would reduce our dependence on foreign countries for pharmaceuticals by boosting production here at home. The legislation would create federal incentives to onshore manufacturing of essential medicine, while taking steps to shore up links in the supply chain. “We know that depending on foreign countries for key resources – whether it’s oil or medicine – leaves us vulnerable to global supply chain shocks and shortages,” said Sen. Smith. “This bipartisan legislation would reduce our dependence on foreign pharmaceutical manufacturing and help boost production here at home. I look forward to getting this bill across the finish line so we can relieve prescription drug shortages and build more resilient supply chains.” “The Chinese Communist Party threatened to cut off America’s access to vital drugs during the pandemic,” said Sen. Cotton. “It’s time to bolster onshore manufacturing of pharmaceuticals to ensure Americans never have to rely on China for lifesaving medicine.” “Amneal applauds Senators Smith and Cotton on their targeted approach to increase pharmaceutical manufacturing here in the United States,” said Chirag Patel, President & Co-CEO of Amneal Pharmaceuticals. “Ensuring that
U.S. Senator Tina Smith’s Bipartisan Work Makes Minnesota Rural Hospitals Now Eligible for Coronavirus Relief Loans
WASHINGTON, D.C. [04/24/20]—U.S. Senator Tina Smith (D-Minn.)—a member of the Senate Banking, Indian Affairs, Health and Agriculture Committees—said today that the U.S. Department of the Treasury heeded her bipartisan call with Republican Senator John Barrasso (R-Wyo.) to provide relief to rural hospitals amid the coronavirus (COVID-19) pandemic by making them eligible for the Paycheck Protection Program (PPP) created through the CARES Act. Sen. Smith says that the Treasury Department and Small Business Administration (SBA) also heeded her call to make Tribal gaming businesses eligible for the PPP. In addition, Treasury and the SBA provided additional guidance on agriculture cooperatives, making clear that they are
U.S. Senator Tina Smith Presses Treasury, Small Business Administration to Support Cooperatives, Rural Hospitals and Businesses in Minnesota, Across Nation By Making Firms Eligible for Paycheck Protection Program
WASHINGTON, D.C. [04/23/20]—U.S. Senator Tina Smith (D-Minn.)—a member of the Senate Banking, Indian Affairs, Health and Agriculture Committees—is pressing the U.S. Department of the Treasury and the Small Business Administration (SBA) to support workers, small businesses and families by opening eligibility for the Paycheck Protection Program (PPP) to additional businesses. Sen. Smith has heard from constituents and Minnesota businesses denied access to PPP assistance. Sen. Smith is pressing Treasury Secretary Steven Mnuchin and SBA Administrator Jovita Carranza to open the program to those firms that are key employers in Minnesota who have been denied access due to program rules or
U.S. Senators Push for Sens. Smith, Moran’s Bipartisan Legislation to Make Oral Cancer Medications More Affordable
WASHINGTON, D.C. [04/24/20]—U.S. Senators Tina Smith (D-Minn.) and Jerry Moran (R-Kan.) led a bipartisan group of senators in calling on House and Senate leadership to make sure the next coronavirus relief package includes their Cancer Drug Parity Act, which would make sure oral cancer drugs are covered in the same way as traditional intravenous (IV) chemotherapy. Right now, doctors are advising cancer patients to stay at home as much as possible. Switching to oral medications when medically appropriate would allow for patients to self-administer and stay in their homes, but making the switch to oral medications may not be financially feasible. Sens. Smith and
Klobuchar, Smith Announce Loan Eligibility for Farmers Included in Interim Coronavirus Relief Package Passed by Senate
WASHINGTON – U.S. Senators Amy Klobuchar and Tina Smith announced that farmers in Minnesota and across the country are now eligible for additional disaster loan relief under the most recent coronavirus relief package passed unanimously by the Senate. Under a bill passed by the Senate this week, agricultural enterprises will become eligible for the Small Business Administration’s Economic Injury Disaster Loans (EIDL) and Emergency Economic Assistance Grant (EEAG) programs. These key changes will allow farmers to be eligible low-interest loans from the federal government, as well as grants of up to $10,000 to help farmers get through the coronavirus pandemic. This important provision
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