Latest Releases
Klobuchar, Smith Secure Significant Federal Funding to Expand and Upgrade I-94 in Wright County
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) announced that they have secured $3 million in federal funding through the Fiscal Year 2023 budget to expand and upgrade a stretch of the Interstate 94 (I-94) highway in Wright County. “This federal funding will help expand and upgrade I-94, improving safety and mobility on this critical route. I am proud to have worked with local leaders to secure this funding, and I know that these resources will make a real difference for so many communities,” said Klobuchar. “The I-94 expansion project will improve access to the Interstate and reduce traffic for those traveling throughout the region,” said Smith. “Relieving congestion and making our roadways safer and more accessible is integral to keeping communities connected to jobs, local businesses, school, health care, and other important services. I’m proud of the work we did with local leaders to secure funding for this project.” This project continues efforts over the past decade to improve I-94 from Maple Grove through Clearwater, including an overlay from Fish Lake Interchange to West of Highway 101, the Dayton Parkway Interchange, lane expansion from St. Michael to Rogers, and reconstruction and expansion from Monticello to Clearwater. This would continue the process of clearing the bottleneck between Albertville and Monticello, and create a seamless 6-lane passage of traffic which is anticipated to result in continued economic development and increased safety. Klobuchar and Smith have been actively involved in securing this federal funding for projects benefiting communities across the state through
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
Sen. Smith Pushes for Action to Support Iron and Steel Workers in Minnesota
U.S. Senator Tina Smith is calling on the federal government to act promptly and conclude a Commerce Department investigation to determine the effect of steel imports on national security—known as a Section 232 investigation—in order to stem the tide of steel imports that puts the jobs of iron and steel workers in Minnesota at risk. In April of last year, President Trump announced that he would be invoking Section 232 of a U.S. trade law to launch an investigation into the effects of foreign steel imports on national security. After repeated delays from the Commerce Department in issuing recommendations for action, Sen. Smith—who recently
Sen. Smith “Proud” to be Joining Leadership of Bipartisan Rural Health Caucus
Today, U.S. Senator Tina Smith released the following statement after being named to leadership of the bipartisan Senate Rural Health Caucus: “All families deserve quality health care no matter where they call home,” said Sen. Smith. “But rural communities face unique challenges when it comes to access to health care, which is why I’m proud that I’ll be able to serve as a leader of the Senate Rural Health Caucus. It will give me an additional avenue to help fight to lower the cost of health care, combat the opioid crisis, and address the needs that rural communities face when
Sen. Tina Smith Pushes to Help Minnesotans Cut Costly Student Loan Debt
U.S. Senator Tina Smith has thrown her support behind a proposal to help tens of millions of student loan borrowers in Minnesota and around the country lower their monthly debt burden. The Bank on Students Emergency Loan Refinancing Act would give Americans with student debt the opportunity to refinance their loans at lower interest rates. Right now, people can refinance other types of debt—e.g. home, car, or business loans—but there’s no national program in place to refinance federal student loans. “The price tag on a college degree is a serious source of anxiety for Minnesota students and families, and often, the
Sen. Tina Smith Fights to Ensure 22,000 Retired Minnesota Workers Can Keep Hard-Earned Pensions
After recently meeting with retirees in Duluth whose hard-earned pensions are at risk of being drastically reduced due to chronic underfunding of the Central States Pension Fund, U.S. Senator Tina Smith is backing up her promise to support legislation that would help protect the pensions of retirees across the country, including 22,000 in Minnesota. The Butch Lewis Act—named for a veteran who was the head of his local union in Ohio and who fought to preserve fellow Teamsters’ pensions—would help shore up the Central States Pension Fund and strengthen the multi-employer pension system for all workers by creating a Pension Rehabilitation
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