Latest Releases
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
U.S. Senator Tina Smith Announces Significant Federal Funding for Tribal Nations and the Native Community in the Twin Cities
WASHINGTON D.C. [1/13/23] –– U.S. Senator Tina Smith (D-Minn.) announced that she helped secure over $8.6 million for Minnesota Tribal Nations and communities in the Twin Cities metro area. These funds will support the Lower Sioux Indian Community, the Leech Lake Band of Ojibwe, the Shakopee Mdewakanton Sioux Community, the Prairie Island Indian Community, the Indian Health Board of Minneapolis, and the Native American Community Clinic. Senator Klobuchar also worked to secure this funding. “For too long, Native communities have experienced negative impacts of federal underinvestment and underfunding of critical services. I’m proud to have worked with Tribal leaders to help secure funding for projects that will address some of these disparities,” said Senator Smith. “These are significant investments that will increase access to Indigenous health services, expand Tribal housing opportunities, and invest in clean energy, carbon reduction, and protecting waters. I look forward to seeing all the good these projects will do for Minnesota’s Tribal and Native communities.” This federal funding will help further the following priorities: Expanding health care access and upgrading health care facilities: $2.25 million for the Indian Health Board in Minneapolis to support the Menaandawiwe Wellness Campus vision to provide traditional healing methods and establish a connection to nature for Native people living in the Twin Cities metro area. $1 million to expand the Native American Community Clinic’s capacity by adding ten additional medical rooms, five dental exam rooms, expanded laboratory and diagnostic services, and establish a better clinic flow to improve efficiency. $850,000 for the Leech Lake
Sen. Tina Smith: Farmers Shouldn’t Bear Burden of President Trump’s Tariff Increases
WASHINGTON [07/23/18]—Today, U.S. Senator Tina Smith (D-Minn.) shared concerns with top officials in the Trump administration about the effects the President’s recent tariff increases will have on farmers in Minnesota and across the country. Sen. Smith believes that the United States must take action to address trading practices that threaten U.S. jobs. However, she believe such actions must be done in a thoughtful, strategic way. In a letter to USDA Secretary Sonny Perdue and U.S. Trade Representative Robert Lighthizer, Sen. Smith—a member of the Senate Agriculture Committee—called for the Trump Administration to provide clear answers to farmers, ranchers, and the
Sen. Tina Smith’s Provisions to Improve Career and Technical Training Pass Senate
WASHINGTON, D.C [07/24/18]—U.S. Senator Tina Smith (D-Minn.) said today that several provisions she authored to improve career and technical education passed a key hurdle with Senate passage Monday night. The bill would expand opportunities for young people who are looking for high-skill jobs that don’t require a four-year college degree. The bill passed with bipartisan support in the Senate Monday night. “Every student should be able to get the skills necessary to prepare for their future and create opportunity—but that doesn’t mean everyone wants to or has to go to a four-year college,” said Sen. Smith, a member of the Senate Education Committee. “This bipartisan bill
Sen. Tina Smith Condemns Trump Administration’s Damaging Changes to Family Planning Program
WASHINGTON, D.C. [07/31/18]—Today, U.S. Senator Tina Smith (D-Minn.) condemned a Trump Administration proposal that would make it harder for millions of women to access quality health care from providers they know and trust. Sen. Smith, along with 45 of her Senate colleagues, called on Health and Human Services (HHS) Secretary Alex Azar to reverse course on the planned changes to the Title X family planning program and protect the care families need. “We are deeply concerned the Trump-Pence Administration’s proposed rule to update the Title X program includes a number of significant changes that run counter to Congress’s intent in establishing the
Sen. Tina Smith’s Priorities to Improve Career and Technical Training Become Law
WASHINGTON, D.C [07/31/18]—U.S. Senator Tina Smith’s (D-Minn.) priorities to expand workforce development were signed into law by the President today. After passing in both houses of Congress, several measures championed by Sen. Smith—aimed at helping Minnesotans and Americans get the training they need to land careers in high-demand fields—became law as part of bipartisan education legislation. “Not everyone wants to or has to go to a four-year college, but everyone should be able to get the skills necessary to lead their own lives and create opportunity for themselves and their families,” said Sen. Smith, a member of the Senate Education Committee. “My
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