Latest Releases
Sen. Smith Leads Bipartisan Legislation to Safeguard American Food Exports and Protect Farmers
WASHINGTON – U.S. Senators Tina Smith (D-MN), Mike Braun (R-IN), Roger Wicker (R-MS), and Chris Coons (D-DE), introduced bipartisan legislation to protect farmers in the event of animal disease outbreaks. The Safe American Food Exports (SAFE) Act would give the USDA clear authority to preemptively negotiate regionalization agreements for known animal disease threats, ultimately preventing unsafe agriculture exports from getting shipped around the globe and keeping trading markets open for American farmers with disease-free livestock. “I hear from Minnesota farmers all the time about the toll avian flu outbreaks have on families and the economy. Animal disease outbreaks can unnecessarily disrupt trade and hurt our exporting ability,” said Sen. Smith. “This bipartisan bill would allow the USDA to proactively negotiate regionalization agreements with our key trading partners. It’s a common-sense step that would help our farmers weather any future animal disease outbreaks.” “Indiana is a top ranked poultry-producing state, being first in the country for ducks, second for layer chickens and table eggs, and third for turkeys,” said Sen. Braun. “During the highly pathogenic avian influenza (HPAI) outbreak last year, our Hoosier poultry producers relied on trade regionalization agreements to ensure that their safe food products made it to market. Spending most of my life around the farm, I know just how devastating animal disease outbreaks can be. The SAFE Act will help farmers focus on animal health, rather than finding a market for their safe food products, by giving USDA the authority to negotiate proactive trade agreements.” “Poultry farmers across the
Senator Smith, Colleagues Call on Fed to Strengthen Rules for Banks with Assets Over $100 Billion
Washington, D.C. – U.S. Senators Tina Smith (D-Minn.), Elizabeth Warren (D-Mass.), Tammy Duckworth (D-Ill.), Richard Blumenthal (D-Conn.), Bernie Sanders (I-Vt.), Jack Reed (D-R.I.), Mazie Hirono (D-Hawaii), Ed Markey (D-Mass.), Angus King (I-Maine), Sheldon Whitehouse (D-R.I.), Chris Van Hollen (D-Md.), and Brian Schatz (D-Hawaii) wrote the Vice Chair for Supervision of the Federal Reserve (Fed) Michael Barr, calling on him to exercise the Fed’s authority to apply stronger regulation and supervision to banks with assets totaling $100 to $250 billion. “The fall of both SVB and Signature, the near-crash of First Republic, and the struggles of other regional banks shed new light on the systemic importance of banks with assets totaling between $100 and $250 billion,” wrote the senators. “In response to SVB’s and Signature Bank’s failures, the Department of Treasury, after consultation with the Fed and the Federal Deposit Insurance Corporation (FDIC), approved ‘systemic risk exceptions’ allowing the FDIC to fully compensate the banks’ depositors, including those holding deposits above the $250,000 FDIC insurance threshold. In making this determination, regulators acknowledged the systemic significance of banks of this size, and that their failure could have significant spillover effects on the broader banking system.” The 2018 Economic Growth, Regulatory Relief, and Consumer Protection Act (EGRRCPA), which unwound Enhanced Prudential Standards for mid-sized banks, provided the Fed with the discretion to maintain stronger rules – including stronger requirements for capital, liquidity, stress testing, and resolution plans – to banks with assets between $100 and $250 billion. The Fed has largely failed to
As State of Minnesota Rolls out Comprehensive Opioid Proposal, Sen. Tina Smith Fights the Epidemic from Washington
As the state of Minnesota rolls out a set of proposals today to address opioids, U.S. Senator Tina Smith is working to tackle the crisis from Washington by cosponsoring “Penny-a-Pill” legislation that would require big pharmaceutical companies to fund solutions to the epidemic they helped create. The Budgeting for Opioid Addiction Treatment Act would raise funds from pharmaceutical companies to establish new addiction treatment facilities, reimburse mental health providers, expanding access to treatment programs, strengthen addiction recovery services, and build facilities to provide care for babies born with neonatal abstinence syndrome. “The opioid epidemic has been devastating to families all across Minnesota,” said
In Her First Senate Ag Committee Meeting, Sen. Tina Smith Takes Leadership Role on Rural Development and Energy Panel
Today, U.S. Senator Tina Smith joined her first Senate Agriculture Committee hearing, where she was named ranking member of the Rural Development and Energy Subcommittee. She vowed to use her new position to advocate fiercely for Minnesota’s priorities during this year’s rewrite of the federal Farm Bill. You can download a clip of her speaking in the hearing here. “I fought for a spot on the Agriculture Committee because farming is the foundation of Minnesota’s economy,” said Sen. Smith. “As we move into this year’s Farm Bill debate, I’m going to push Minnesota’s priorities and talk with as many ag experts, rural businesses,
Klobuchar, Smith Introduce Legislation to Develop More Effective, Universal Flu Vaccine
U.S. Senators Amy Klobuchar and Tina Smith today introduced the Flu Vaccine Act with Senator Ed Markey (D-MA) to encourage additional National Institutes of Health (NIH) research to develop a more effective flu vaccine. The United States has already seen 63 pediatric deaths and high levels of illness and hospitalizations related to the flu this season. One-in-10 Americans who died the week ending on January 20th died from the flu or pneumonia. The flu costs the nation $10.4 billion in direct medical costs annually and $87 billion in total economic burden. The current flu vaccine is only 60 percent effective at best,
Sen. Tina Smith’s Statement on Commerce Dept. Recommendation for Steep New Tariffs on Foreign Steel
Today, U.S. Senator Tina Smith released the following statement on an announcement that the Department of Commerce will recommend heavy new tariffs on foreign steel imports. “One of my first stops as Senator was in Eveleth, home to the U.S. Hockey Hall of Fame, as well as many of the hardest-working men and women in the country,” said Sen. Smith. “When I was there, I talked with local steelworkers about the biggest challenges facing Northern Minnesota. They told me their jobs are at risk if we don’t continue to crack down on steel dumping from countries like China. Since then, I pressed
English