Latest Releases
U.S. Senator Tina Smith Reintroduces Legislation to Support Sustainable Workplace Retirement Plans
WASHINGTON, D.C. [02/16/23]— Today, U.S. Senator Tina Smith (D-Minn.) reintroduced legislation to provide legal certainty to workplace retirement plans that choose to consider environmental, social and governance (ESG) factors in their investment decisions or offer ESG investment options. “Sustainable investment options are good for retirees and good for our environment—that’s a win-win,” said Sen. Smith, a member of the Senate Banking Committee. “I’m putting forth this legislation because we know there’s a growing demand for sustainable investing, and Congress should act now to provide the legal certainty necessary to make sure workplace retirement plans are able to offer these options to workers across the country.” Despite considerable demand for sustainable investment options, relatively few workplace retirement plans, such as pensions and 401(k) plans, take sustainable investing principles into account in their investment decisions or provide sustainable investment options to workers. This is the case even though many workers and retirees want their plans to do so. One of the primary issues hindering plans that want to offer sustainable investment options is an uncertain and regularly changing legal environment. Under the Trump Administration, the Department of Labor issued a rule that imposed new limits on the consideration of environmental, social, and governance (ESG) factors by workplace retirement plans. That rule was rescinded and replaced last year, once again allowing plans to invest sustainably. However, the new rule is currently subject to a legal challenge and is the target of a Congressional Review Act resolution. The Freedom to Invest in a Sustainable Future Act
U.S. Senators Tina Smith, Lindsey Graham Reintroduce Bipartisan Legislation to Help Prepare Young People for the Workforce
WASHINGTON, D.C. [02/16/23]—This week, U.S. Senators Tina Smith (D-Minn.) and Lindsey Graham (R-S.C.) reintroduced bipartisan legislation to promote partnerships between afterschool providers and businesses so young people can explore career paths and opportunities that help them land their first jobs and thrive in the workforce. The Youth Workforce Readiness Act would support high-quality programs that help young people gain practical skills and connect them to real-life work experiences and learning opportunities. The legislation is co-sponsored by Senators Susan Collins (R-ME) and Ron Wyden (D-OR). “We should be doing everything we can to provide our kids with the skills and connections they need to find good jobs and contribute to their communities. I also hear from employers in Minnesota that they need help getting connected to great employees. That’s where afterschool and out-of-school time providers can play a role in helping young people gain skills and make connections to mentors, opportunities and local employers,” said Sen. Smith, a member of the Senate Education and Labor Committee. “Our bipartisan bill would help support youth success for years to come by exposing young people to a wide range of careers and helping them make connections in the workforce.” “Preparing our kids to successfully contribute to our economy helps keep America strong,” said Sen. Graham. “A well-educated, well-trained workforce is a key component to future economic development. This legislation is great news for South Carolina and an important investment in the future of our nation.” Right now, too many young people in Minnesota and around the
Bipartisan, bicameral bill from Sens. Coons, Risch, Smith, Gardner & Reps Luján, Fleischmann, Hultgren, Lipinski supports small business innovation
WASHINGTON – U.S. Senators Chris Coons (D-DE), James Risch (R-ID), Tina Smith (D-MN), and Cory Gardner (R-CO) and U.S. Representatives Ben Ray Luján (D-NM), Chuck Fleischmann (R-TN), Randy Hultgren (R-IL), and Daniel Lipinski (D-IL) today introduced the Promoting Small Business Innovation through Partnerships with National Labs Act, which allows small businesses to gain access to premier facilities at the national labs, spurring innovation and stimulating the culture of private-public collaboration. Small businesses are the lifeblood of the American economy. However, the cost of investing in necessary but expensive capital equipment often prohibits small businesses from pursuing truly innovative ideas and developing
Sen. Tina Smith Says Minnesotans Deserve to Know How Drug Companies Are Using Billions in Tax Breaks
WASHINGTON, D.C. [05/17/18]—Today, U.S. Senator Tina Smith is introducing legislation that would require pharmaceutical companies to share with Minnesotans and people across the country how they’re using the billions of dollars in tax breaks they received as a result of the Republican tax bill. The GOP tax law provided pharmaceutical companies with large windfalls that could have been used to bring down costs for consumers. But earlier this year, news reports showed that some top pharmaceutical companies used a large chunk of their tax cuts to benefit investors and drive up stocks. Sen. Smith’s bill—the Disclosing Pharmaceutical Company Windfall Profits Act—would make
Sen. Tina Smith Pressing for Senate Hearing on Novartis Payments to Trump Lawyer Michael Cohen
WASHINGTON, D.C. [05/17/18]—U.S. Senator Tina Smith (D-Minn.) is calling for a full investigation of the payments Novartis made to President Trump’s personal attorney Michael Cohen and is asking the leaders of the Senate Health Committee to hold a hearing with the CEO of Novartis as the key witness. Sen. Smith expresses concern that the payments may have played a role in shaping the Trump Administration’s positions on issues affecting Novartis and other drug makers, including importation of cheaper drugs from abroad. You can read a copy of the letter Sen. Smith sent by clicking here. “Discovery of these payments comes at
Sen. Tina Smith Condemns Secretary DeVos Dismantling Protections Against Predatory Practices by For-Profit Colleges
WASHINGTON, D.C. [05/25/18]—U.S Senator Tina Smith (D-Minn.) joined 28 of her colleagues in condemning Education Secretary Betsy DeVos’ dismantling of a crucial office designed to protect students against predatory practices by for-profit colleges. Tasked with investigating schools that cheat, mislead, or defraud students, recent media reports have indicated staff and resources of the Department of Education’s Student Aid Enforcement Unit are being systematically reduced by Secretary DeVos. This is occurring while Secretary DeVos has simultaneously hired former executives from for-profit colleges that were previously under investigation by the same unit. “It is critically important that the Department fulfill its mission to protect students in higher
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