Latest Releases
U.S. Senator Tina Smith’s Bipartisan Legislation to Provide Transparency For Those Looking to Purchase Popular Long-Term Savings Vehicles Signed Into Law
WASHINGTON, D.C. – U.S. Senator Tina Smith (D-MN) announced her bipartisan legislation with Senator Thom Tillis (R-NC) to help provide transparency for consumers looking to purchase popular, long-term savings vehicles was signed into law as part of the bipartisan government funding bill. The law will help ensure that investors considering purchasing Registered Index Linked Annuities (RILAs) get clear and direct information that promotes investor understanding. “It’s more important than ever for consumers to have clear and concise information about their investments,” said Smith. “This legislation would help consumers looking to purchase RILAs by providing clear information about their potential investments in terms that they are able to understand. I hope this legislation will offer a model for how disclosures can and should be designed with consumers in mind. I am proud of our work to get this bill across the finished line and signed into law.” The sale of RILAs, which are tax-deferred, long-term investments often used for retirement, have grown rapidly in recent years. However, the lack of a tailored form for registering these products with the Securities and Exchange Commission (SEC) often results in long, dense disclosures that are incomprehensible to the typical purchaser. The Registration for Index-Linked Annuities Act offers a model for how disclosures can be designed with the needs of investors in mind. By directing the SEC to develop a tailored RILA registration form, the bill will help ensure that investors have the information they need to determine whether the product makes sense for their
U.S. Senator Tina Smith Announces Significant Federal Funding for Tribal Nations and the Native Community in the Twin Cities
WASHINGTON D.C. [1/13/23] –– U.S. Senator Tina Smith (D-Minn.) announced that she helped secure over $8.6 million for Minnesota Tribal Nations and communities in the Twin Cities metro area. These funds will support the Lower Sioux Indian Community, the Leech Lake Band of Ojibwe, the Shakopee Mdewakanton Sioux Community, the Prairie Island Indian Community, the Indian Health Board of Minneapolis, and the Native American Community Clinic. Senator Klobuchar also worked to secure this funding. “For too long, Native communities have experienced negative impacts of federal underinvestment and underfunding of critical services. I’m proud to have worked with Tribal leaders to help secure funding for projects that will address some of these disparities,” said Senator Smith. “These are significant investments that will increase access to Indigenous health services, expand Tribal housing opportunities, and invest in clean energy, carbon reduction, and protecting waters. I look forward to seeing all the good these projects will do for Minnesota’s Tribal and Native communities.” This federal funding will help further the following priorities: Expanding health care access and upgrading health care facilities: $2.25 million for the Indian Health Board in Minneapolis to support the Menaandawiwe Wellness Campus vision to provide traditional healing methods and establish a connection to nature for Native people living in the Twin Cities metro area. $1 million to expand the Native American Community Clinic’s capacity by adding ten additional medical rooms, five dental exam rooms, expanded laboratory and diagnostic services, and establish a better clinic flow to improve efficiency. $850,000 for the Leech Lake
U.S. Senator Tina Smith, U.S. Representative Angie Craig Introduce 21st Century Workforce Partnerships Act
WASHINGTON, D.C. [10/23/19]—Today, U.S. Senator Tina Smith (D-Minn.) and U.S. Representative Angie Craig (D-MN 2) introduced companion bills in the Senate and House to help Minnesotans secure careers in high-demand fields by fueling workforce training partnerships between schools and local businesses. Smith and Craig said that everybody, whether they attend a four-year college or pursue a trade, should be able to find a good-paying career. The 21st Century Workforce Partnerships Act—which is supported by Sens. Jacky Rosen (D-Nv.) and Dianne Feinstein (D-Calif.) in the Senate—addresses a major need in the modern economy: hands-on training to prepare students for the high-skill jobs of today, while also
U.S. Sens. Klobuchar, Smith & U.S. Reps. Peterson, Stauber: Over $350k in Infrastructure and IT Investments Awarded to 3 Tribal Colleges in Minnesota
WASHINGTON, D.C. [10/17/2019]—U.S. Senators Amy Klobuchar and Tina Smith (D-Minn.), along with U.S. Representatives Collin Peterson (D-MN 7) and Pete Stauber (R-MN 8), lauded the U.S. Department of Agriculture (USDA) for awarding over $350,000 to three tribal colleges in Minnesota—Leech Lake Tribal College, Red Lake Nation College and White Earth Tribal and Community College—for infrastructure improvements. “These rural development investments for Red Lake Nation College, White Earth Nation College, and Leech Lake Tribal College will help students gain access to the best possible options to advance their education,” said Sen. Klobuchar. “Minnesotans have a long tradition of honoring our tribal communities, yet we still have work to do
In Senate Hearing, U.S. Sen. Tina Smith Calls Administration’s RFS Policy “a Bait and Switch,” Urges Deputy Secretary to Stand up for Farmers
WASHINGTON, DC [10/17/19]— Today, U.S. Senator Tina Smith (D-Minn.) pressed U.S. Deputy Secretary of Agriculture Stephen Censky about the Administration’s policy on the amount of corn-based ethanol and other renewable fuels blended into the nation’s gasoline supply. Sen. Smith, who has long urged expanded use of renewables, said that a strong renewable fuels standard is critically important to Minnesota corn and soybean farmers and is key to job creation in many rural communities. Her questioning came in response to President Trump’s announcement two weeks ago that he would take steps to make up for the abuse of small refinery waivers, which have allowed oil refineries to avoid using
U.S. Senators Tina Smith & Lisa Murkowski Introduce Bipartisan Tribal Energy Legislation
WASHINGTON, D.C. [10/16/2019]—Today, U.S. Senators Tina Smith (D-Minn.) and Lisa Murkowski (R-Alaska) introduced the bipartisan Tribal Energy Reauthorization Act (TERA), which would update eligibility requirements for energy project grants and encourage more locally and regionally based partnerships when providing technical assistance to tribes. Sens. Smith and Murkowski—both members of the Senate Indian Affairs Committee—said the legislation would reauthorize and improve the Department of Energy’s Office of Indian Energy Policy and Programs (OIE). The bill reauthorizes OIE and the Tribal Energy Loan Guarantee Program (TELGP) through 2030. “We need to work with people in local communities—those who are closest to the work—in order to
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