Latest Releases
Senators Klobuchar, Smith, and Representative Craig Announce Deadline Extension for Enrollment in 2023 Dairy Margin Coverage Program
WASHINGTON, D.C. [12/12/22] — U.S. Senators Amy Klobuchar, Tina Smith, and U.S. Representative Angie Craig (all D-MN) announced that the deadline for eligible farmers to enroll in the Dairy Margin Coverage (DMC) and Supplemental Dairy Margin Coverage (SDMC) programs has been extended. Eligible producers will now have until January 31, 2023 to enroll in the program. These programs help dairy producers manage the volatility of milk and feed price disparities. “The Dairy Margin Coverage program helps provide Minnesota’s dairy farmers with important stability and risk management tools that benefit our rural communities,” said Klobuchar. “This extended sign-up period will allow additional time for dairy farmers to evaluate their eligibility and enroll. I encourage all dairy farmers to apply for the DMC program before January 31.” “During periods of price volatility, the Dairy Margin Coverage program is an important assurance for dairy farmers,” said Smith. “I encourage dairy farmers to take advantage of this extended sign-up period and enroll before the new January 31 deadline.” “Minnesota’s dairy farmers keep our state’s agricultural economy moving – and the Dairy Margin Coverage and Supplemental Dairy Margin Coverage programs are critical to ensuring our farmers have the resources they need to keep their operations running smoothly,” said Craig. “I’m pleased to see the deadline extended for these essential programs – and encourage all Second District dairy farmers to enroll today.” Producers interested in enrolling in the DMC and SDMC programs must certify with their local Farm Service Agency (FSA) that their operation commercially markets
Senators Smith, Warren Ask Key Regulators About Banking System’s Exposure to Crypto Risks after FTX Crash
Washington, D.C. – U.S. Senators Tina Smith (D-Minn.) and Elizabeth Warren (D-Mass.), members of the Senate Banking, Housing, and Urban Affairs Committee, sent letters to three key banking regulators raising concerns about the ties between the banking industry and crypto firms following FTX’s bankruptcy. The senators are asking each regulator, the Federal Reserve (Fed), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC), how they assess the banking system’s exposure to crypto risks. “(I)t appears that crypto firms may have closer ties to the banking system than previously understood,” wrote the senators. “Banks’ relationships with crypto firms raise questions about the safety and soundness of our banking system and highlight potential loopholes that crypto firms may try to exploit to gain further access.” Earlier this month, FTX, once one of the world’s largest crypto exchanges valued at $32 billion, its sister company Alameda Research, and 130 affiliated companies declared bankruptcy, triggering a crisis in the crypto market – tanking crypto values and dragging other crypto firms down. The senators note that these companies were not deeply integrated into the traditional banking system, sparing millions of people from potential turmoil – though reports show that crypto firms may have closer ties to the banking system than previously known. Alameda, which reportedly funneled $10 billion from the FTX exchange and into its own coffers under a scheme coordinated by Sam Bankman-Fried and other FTX and Alameda executives, made an $11.5 million investment in Washington state-based
U.S. Senator Tina Smith, Senate Democrats Urge DeVos to Listen to Students and Survivors of Sexual Assault, Start Over on Title IX Rule
WASHINGTON, D.C. [02/04/2019]–U.S. Senator Tina Smith (D-Minn.) joined her colleagues—led by Senate Education Committee ranking member Senator Patty Murray(D-Wash.)—in urging Education Secretary Betsy DeVos to rescind proposed Title IX changes and to instead draft a rule that truly addresses sexual assault in schools, colleges, and universities in Minnesota and across the country. Since Secretary DeVos announced her proposed rule, students, survivors, advocates, and colleges around the country have fiercely opposed her proposal, which would weaken protections for students and allow schools to shirk their responsibility to keep students safe. “We urge you to listen to students, schools, and survivors across this country,” the Senators wrote. “Clearly, harassment and assault are
U.S. Senator Tina Smith’s Statement on President Trump’s State of the Union Address
WASHINGTON, D.C. [02/05/2019]—This evening, U.S. Senator Tina Smith (D-Minn.) released the following statement in response to President Trump’s State of the Union Address. “I grew up with my mom always saying something that I think a lot of other Americans heard growing up—that ‘actions speak louder than words.’ We heard the President bring up bipartisanship tonight, and wouldn’t it be great if he lives up to his words,” said Sen. Smith. “His actions need to match what he shared with all of us, and one place I hope we can gain bipartisan support is my bill to help federal contract workers get
U.S. Senator Tina Smith Continues Fight to Lower Prescription Drug Prices By Backing Bipartisan Legislation to Bring Generics to Market
Senator Says Bipartisan Legislation Would Combat Brand-Name Pharmaceutical Companies Unfairly Blocking Lower-Cost Generic Drugs WASHINGTON, D.C [02/06/2019]—This week, U.S. Senator Tina Smith (D-Minn.) continued one of her top health care priorities—lowering the skyrocketing costs of prescription drugs—by supporting bipartisan legislation led by Sen. Patrick Leahy (D-Vt.) to stop brand-name pharmaceutical companies from blocking lower-cost generic drugs to market. The Creating and Restoring Equal Access To Equivalent Samples (CREATES) Act, which is also supported by Minnesota Senator Amy Klobuchar (D-Minn.), would deter pharmaceutical companies from blocking cheaper generic alternatives from entering the marketplace. “The amount of money that Americans pay for medications
U.S. Senator Tina Smith, Senate Colleagues Fight to Increase Fairness and Transparency in Lending Practices
WASHINGTON, D.C. [02/06/19]—Yesterday, U.S. Senator Tina Smith (D-Minn.) took steps to improve data collection and deter discrimination in mortgage lending. The Home Loan Quality Transparency Act would reinstate key reporting mortgage lending data reporting requirements that were repealed last year over the objections of Sen. Smith and many consumer and civil rights advocates. The new legislation to reinstate lending transparency was introduced by Sen. Cortez Masto (D-Nev.) and cosponsored by Sen. Smith. “I believe that when we have an opportunity to make our communities more inclusive, strengthen transparency, and make sure banks and lenders are playing by the rules, we should take it,” said Sen. Smith. “This legislation strengthens a key tool for
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