Latest Releases
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
Klobuchar, Smith Urge Department of Education to Address Loan Forgiveness for Defrauded Borrowers
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN) and Senator Tina Smith (D-MN) are continuing to call on the Department of Education to address protections for student loan borrowers. In a letter to Education Secretary Betsy DeVos, Klobuchar and Smith called on the Department of Education to immediately stop collecting on the student debt of borrowers who were defrauded by Globe University (Globe) and Minnesota School of Business (MSB), discharge the covered loans, and process pending borrower defense applications. Klobuchar and Smith’s call follows recent news of Globe and MSB filing for bankruptcy, which may prevent these defrauded students from receiving any of
U.S. Senator Tina Smith Continues Bipartisan Fight to Improve Access to Rural Health Care for New and Expecting Moms
WASHINGTON, D.C. [12/04/19]–U.S. Senator Tina Smith (D-Minn.) is continuing her efforts with Republican Senator Lisa Murkowski (R-Alaska) to ensure new and expecting moms living in rural communities get the care they need by calling on Senate Health Committee leaders to hold a markup for the Rural Maternal and Obstetric Modernization of Services (Rural MOMS) Act. Earlier this year, Sen. Smith introduced her Rural MOMS legislation after hearing from Minnesotans and providers about the struggles families face in accessing maternity and obstetric care in rural areas and small towns. And this fall, the House companion bill to Sens. Smith and Murkowski’s bill advanced out of the House Committee
Klobuchar, Smith, Peterson Announce $200K for Transit Improvements in Red Lake Band of Chippewa Indians
WASHINGTON D.C. [11/27/2019]–U.S. Senators Amy Klobuchar and Tina Smith (D-Minn.), along with Representative Collin Peterson (D-MN-07), announced that the U.S. Department of Transportation (DOT) has awarded Red Lake Band of Chippewa Indians a grant of $211,944 for transportation infrastructure improvements. The grant will help Red Lake Nation Public Transit purchase new buses and equipment, allowing it to accommodate ridership demand. Red Lake Nation Public Transit provides bus services on the reservation. “Investments in transportation serve as a down payment on the long-term economic well-being of our tribal communities and our state,” said Sen. Klobuchar. “By investing in buses and bus facilities for the Red Lake Band we are making
Members of the Minnesota Delegation Raise Serious Concerns over Use of Unsafe School Buses to Transport Minnesota Students
WASHINGTON – U.S. Senators Amy Klobuchar and Tina Smith and Representatives Angie Craig (MN-2), Dean Phillips (MN-3), Betty McCollum (MN-4), Ilhan Omar (MN-5), and Collin Peterson (MN-7) expressed serious concern following recent reports that one out of every eight school buses operated by First Student, Minnesota’s largest school bus provider, failed to meet Minnesota safety standards this year due to serious defects such as unsafe brakes, flat tires, steering issues, and faulty emergency door buzzers. In a letter to National Highway Traffic Safety Administration (NHTSA) Acting Administrator James Owens, members of the Minnesota delegation requested additional information on what the agency can do to improve
English