Latest Releases
Senator Smith’s Bipartisan Legislation to Provide Transparency for Those Looking to Purchase Popular Long-Term Savings Vehicles Passes Senate
WASHINGTON, D.C. – Today, 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 has passed the Senate. The bill would 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 look forward to working with my colleagues in the House to help get this bill across the finish line and signed into law.” “This commonsense legislation will create a new form for index-linked annuities through the SEC, which will ensure the buyer has all the necessary information when making a decision,” said Tillis. “This legislation is a necessary step for transparency, and I am proud to work on this bipartisan legislation with my colleagues.” 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
Klobuchar, Smith Statements on Confirmation of Jerry Blackwell to be U.S. District Court Judge
WASHINGTON – U.S. Senators Amy Klobuchar (D-MN) and Tina Smith (D-MN) issued the following statements after the Senate confirmed Jerry Blackwell to serve as a United States District Court Judge for the District of Minnesota. Blackwell has more than three decades of legal experience and was highly recommended by the judicial selection committee Senators Klobuchar and Smith convened to assist them in providing a recommendation to President Biden. “Jerry Blackwell is one of the most widely respected and accomplished members of the Minnesota legal community. With nearly 35 years of trial practice– including the successful prosecution of the murder of George Floyd – I’m confident he has the qualifications and experience needed to be an excellent U.S. District Court Judge,” said Klobuchar. “As a member of the Senate Judiciary Committee, I fought to advance his nomination through the Senate, and I thank my colleagues on both sides of the aisle for their support of this outstanding nominee.” “Jerry Blackwell’s confirmation is an exciting event for Minnesota,” said Smith.“His dedication to equal justice and distinguished record as an attorney and leader in Minnesota’s legal community make him exceptionally well-qualified for this position, and I congratulate him on his confirmation.” Blackwell was appointed by Minnesota Attorney General Keith Ellison to serve as a Special Assistant Attorney General during the trial of former Minneapolis Police Officer Derek Chauvin for the murder of George Floyd. Since 2005, he has also worked as a founding partner of Blackwell Burke P.A., where he has litigated numerous
Sen. Tina Smith Cosponsors Bipartisan Effort to Expand Minnesota Farm Exports
Today, U.S. Senator Tina Smith continued her fight to open new international markets for Minnesota farm products by throwing her support behind bipartisan legislation to help farmers, rural cooperatives, and small businesses sell more exports abroad. The Cultivating Revitalization by Expanding American Agricultural Trade and Exports Act (CREAATE) would bolster funding for key USDA programs that help American farmers branch out into international markets. Expanding these business opportunities and trade partnerships would provide some much-needed support to family farmers and ag operations across the state that have weathered tough commodity prices during recent years.
Sen. Tina Smith Fights Against Federal Proposal to Raise Rent, Impose Strict Requirements on More Than 72,000 Minnesota Households
U.S. Senator Tina Smith called on Secretary of Housing and Urban Development (HUD) Ben Carson to scrap a proposal that would raise rent and impose strict requirements on 72,400 Minnesota households, and millions more across the country. After Secretary Carson released his plan that would hurt millions living in federal housing, Sen. Smith called on him on Tuesday to scrap these efforts and instead work to improve access to affordable, stable housing for Minnesotans and people across the nation. “If enacted, this proposal would leave even more low income people without stable homes, including seniors, people with disabilities, veterans, and children,” wrote Sen. Smith. “Nationally, 4.1
Sen. Smith’s Statement on President’s Decision to Withdraw From Iran Deal
WASHINGTON, D.C. [05/08/18]—Today, U.S. Senator Tina Smith released the following statement after President Trump announced that the United States will withdraw from the Iran Nuclear Agreement. “Iran must never be allowed to obtain a nuclear weapon—they are a threat to the region and to U.S. national security interests. “A withdrawal from the Iran Nuclear Agreement, however, will do nothing to reduce that threat. The Iran deal was never perfect, but I am profoundly concerned that walking away from it with no legitimate basis for doing so is bad for our national security. It heightens the risk of Iran developing a
Sen. Tina Smith’s New Bill Expands Workforce Training Partnerships between Minnesota Schools & Businesses
WASHINGTON, D.C. [05/09/18]—Today, U.S. Senator Tina Smith continued her push to help Minnesotans secure careers in high-demand fields with new legislation to fuel workforce training partnerships between schools and local businesses. Often, good-paying jobs in areas like advanced manufacturing, construction, IT, and health care don’t require an expensive four-year degree. But students either aren’t aware of or don’t have access to local programs that provide the training for those jobs. The 21st Century Workforce Partnerships Act gets at the heart of that issue. Sen. Smith’s bill addresses a major need in our modern economy: education and hands-on training for the high-skill jobs of
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