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. Senator Tina Smith Urges Immediate Action to Control Spread of Coronavirus
WASHINGTON, D.C. [02/03/20]—U.S. Senator Tina Smith (D-Minn.) is calling on the leaders of the Senate Appropriations Health Subcommittee to quickly provide emergency funding to the depleted Public Health Emergency Fund (PHEF) so that state and local health departments aren’t overwhelmed by the emerging coronavirus outbreak. Sen. Smith—a member of the Senate Health Committee—says that PHEF, a critical source of funding for public health emergencies, was depleted in 2012. “Though our federal public health response has been adequately surveilling, screening, and testing for the virus, now is the time to ensure that our states and localities are equally prepared to respond,” wrote Sen. Smith. “As this emergency response evolves, states and localities may foot the bill for medical screening, countermeasures, deployment of
U.S. Senator Tina Smith Continues Fight to Strengthen Workers’ Rights and Wages
WASHINGTON, D.C. [02/3/20]— U.S. Senator Tina Smith (D-Minn.) helped introduce a bill to prohibit states from passing “right-to-work” laws that make it harder for workers to form unions, fight for higher wages and push for better working conditions. Right now, under “right-to-work” laws, some members are not paying dues despite the fact that they benefit from a union. This is draining key resources used by unions to fight for workers’ rights. “I believe that workers have a fundamental right to join together for fair wages, benefits and improved working conditions,” said Sen. Smith. “But right now, so-called ‘right-to-work’ laws are undermining workers’ ability to join together to fight for better pay and working conditions. It’s time
U.S. Senator Tina Smith Announces Duluth Mayor Emily Larson as State of the Union Guest
WASHINGTON, D.C. [01/30/20]—Today, U.S. Senator Tina Smith (D-Minn.) said that Duluth Mayor Emily Larson will be her guest at the President’s State of the Union Address on Tuesday, February 4 in Washington, D.C. Sen. Smith made her first stop in Minnesota as Senator in Duluth, alongside Duluth Mayor Larson. Since then, Sen. Smith and Mayor Larson have worked together on many issues, including the need to support and create affordable housing. The two understand that as new jobs are created, the people who fill them need an affordable place to live. Duluth—like many communities across the state—is taking steps to address this.
Klobuchar, Smith, Murray, Democrats Press Health Department for Updates on Novel Coronavirus, Call for Continuing Robust, Scientifically-Driven Response
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) joined Senator Patty Murray (D-WA), Ranking Member of the Senate Committee on Health, Education, Labor, and Pensions (HELP), and 29 Democratic senators in sending a letter to Secretary Alex Azar at the Department of Health and Human Services (HHS) requesting updates on the Administration’s response to the 2019 Novel Coronavirus outbreak and information on the steps being taken to keep Americans safe. In the letter, the senators asked the Department to keep them updated with the latest information regarding the severity of the disease, the country’s capacity to diagnose cases,
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