Latest Releases
Senator Smith, Grassley Introduce Bipartisan Legislation to Research the Impact of Consolidation on Livestock Farmers and Ranchers
WASHINGTON – Today, U.S. Senators Tina Smith (D-MN) and Chuck Grassley (R-IA), introduced bipartisan legislation to support research into the impact of livestock market consolidation on farmers, ranchers, and consumers in an effort to better understand the problem and craft effective solutions. “Just a handful of large companies have come to dominate the meat and poultry processing industry, which means higher prices for consumers and shrinking earnings for farmers,” said Sen. Smith. “This bipartisan bill would uncover the impact of this consolidation on farmers and consumers and help us create the best possible solutions to fix the problem. I look forward to working with Senator Grassley and my colleagues on both sides of the aisle to pass this legislation as part of the Farm Bill.” “This type of measure is long overdue. Iowa producers are well aware of the downsides of consolidation in the meat industry,” said Sen. Grassley. “Their returns on hard work are getting squeezed more every year all consumers pay more at the grocery stores. I’m glad to work in a bipartisan way with Senator Smith as we continue trying to address this problem.” “Farmers Union launched the Fairness for Farmers campaign to call attention to the increasingly consolidated agricultural marketplace where the four largest beef packers control 85 percent of beef packing and the farmer’s share of the food dollar has dropped from 50 percent in 1952 to less than 16 percent today,” said Minnesota Farmers Union (MFU) President Gary Wertish. “Sen. Smith’s bill will help
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
U.S. Senator Tina Smith Pushes For Public Companies to Disclose Risks from Climate Change
WASHINGTON, D.C. [07/10/19]—Today, U.S. Senator Tina Smith (D-Minn.) announced that she is pushing for new requirements for publicly traded companies to disclose critical information about how much they are contributing to climate change, including the extent of their greenhouse gas emissions and their exposure to climate risk. Originally introduced in 2018, the Climate Risk Disclosure Act will help investors appropriately assess climate-related risks, accelerate the transition from fossil fuels to cleaner and more efficient energy sources, and reduce the risks of both environmental and financial catastrophe. It builds on the work of former Vice President Al Gore, who has warned that ignoring the risks of climate change is producing a “carbon bubble” that will have
U.S. Senator Tina Smith Joins Bipartisan Push to Expand U.S. Grain Exports to Canada
WASHINGTON, D.C. [07/09/19]— Today, U.S. Senator Tina Smith (D-Minn.) joined a bipartisan group of Senators pushing Trump Administration trade officials to negotiate fewer restriction on U.S. grain exports to Canada under the U.S.-Mexico-Canada (USMCA). The Senators pressed for action in a letter to U.S. Trade Representative Gregg Doud. Sens. Kevin Cramer (R-N.D.), John Hoeven (R-N.D.), and Steve Daines (R-Mont.) joined Sen. Smith on the letter. “The grain article in the agreement is a significant area of interest for North Dakota, Minnesota, and Montana grain producers,” the senators wrote. “The ability for our growers to export wheat of domestic origin to
U.S. Senator Tina Smith, Colleagues Introduce Bipartisan Bill to Support Small Business Innovation with Energy Department National Labs
WASHINGTON, D.C. [06/27/19]—Today, U.S. Senator Tina Smith (D-Minn.) along with Sens. Chris Coons (D-Del.), James Risch (R-Ind.), and Cory Gardner (R-Colo.) introduced bipartisan legislation to allow small businesses to gain access to premier facilities at the Department of Energy (DOE) National Labs to spur innovation and the culture of private-public collaboration. The Small Businesses Partnering with National Labs Act of 2019—which has a House companion bill introduced by Reps. Assistant Speaker Ben Ray Luján (D-N.M.) and Chuck Fleischmann (R-Tenn.)—will allow small businesses to analyze the innovation potential of new technologies by accessing facilities and expertise at National Labs to
U.S. Senators Smith and Cramer Introduce Bold, Bipartisan Bill to Bring Down Cost of Insulin, Hold Manufacturers Accountable
WASHINGTON, D.C. [06/27/19]—Today, U.S. Senators Tina Smith (D-Minn.) and Kevin Cramer (R-N.D.) introduced bipartisan legislation to bring down the cost of insulin and to hold insulin manufacturers accountable for excessive increases in the price of the life-sustaining medicine. The bill—announced last week in Minneapolis and introduced today in remembrance of Minnesotan Alec Smith, who tragically passed away two years ago today after rationing his insulin—would provide emergency access to insulin for people in Minnesota, North Dakota, and across the country who can’t afford the skyrocketing price of the drug that they need to stay alive. You can access a summary
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