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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
U.S. Senator Tina Smith, Colleagues Fight to Strengthen Rights of Public Sector Workers to Join Unions, Bargain Collectively
WASHINGTON, D.C. [06/26/19]—Today, U.S. Senator Tina Smith (D-Minn.) and a number of her colleagues introduced bicameral legislation to protect the rights of nearly 17.3 million public workers to join a union and collectively bargain for fair wages, benefits, and improved working conditions. The Public Service Freedom to Negotiate Act of 2019 will guarantee the right of public employees to organize, act concertedly, and bargain collectively in states that currently do not afford these basic protections. “Hard-working Americans have a fundamental right to join together to fight for fair wages and better working conditions,” said Sen. Smith, a member of the Senate HELP Committee. “By protecting the rights of public
U.S. Senator Tina Smith Pushes Bipartisan Legislation to Help Schools Replace Outdated Kitchen Equipment that Prevents them From Serving Most Nutritious Meals
WASHINGTON, D.C. [6/25/19]— U.S. Senators Tina Smith (D-Minn.) and Susan Collins (R-Maine) introduced bipartisan legislation to help schools in Minnesota and across the country replace inefficient and outdated kitchen equipment that may prevent them from serving students the most nutritious meals possible. The School Food Modernization Act would provide grants, loan guarantees and technical assistance to schools in need of replacing outdated equipment. “Nutritious meals in schools don’t just keep kids from going hungry; they make it so students can focus and develop a love of learning,” said Senator Smith, a member of the Senate Education Committee. “Yet,
U.S. Senator Tina Smith Secures Bipartisan Support for Her Legislation to Ensure Millions of Americans with Diabetes Aren’t Forced Into Dangerous Practice of Rationing Insulin
WASHINGTON, D.C. [06/25/19]—Today, U.S. Senator Tina Smith’s (D-Minn.) legislation to hold insulin manufacturers accountable for excessive increases in the price of life-sustaining insulin—announced last week in Minneapolis and set to be introduced later this week in remembrance of Minnesotan Alec Smith—secured bipartisan support thanks to Senator Kevin Cramer (R-N.D.) cosponsoring the Emergency Access to Insulin Act. “Thank you to my colleague and neighbor Senator Cramer for supporting my legislation to provide Minnesotans and Americans with the insulin they need to survive, and to put us on a path to bring down the cost of insulin,” said Sen. Smith, a member
U.S. Senator Tina Smith Pushes Education Secretary DeVos to End Delays in Loan Forgiveness for Students who Attended Now-Defunct For-Profit Colleges
WASHINGTON, D.C. [06/19/19]—U.S. Senator Tina Smith (D-Minn.) is calling on U.S. Education Secretary Betsy DeVos to quickly process the claims of thousands of defrauded students in Minnesota and across the country seeking to get their federal student loans discharged. Thousands of pending discharge applications from students who attended now-defunct colleges – including more than 2,700 from Minnesota – have languished at the U.S. Department of Education for an average of 882 days. Sen. Smith — along with Sens. Dick Durbin (D-IL), Patty Murray (D-WA), and 19 of their Democratic colleagues — wrote Wednesday to U.S. Education Secretary Betsy
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