Latest Releases
Senators Smith, Rounds Reintroduce Bipartisan Bill to Spur Economic Development in Underserved Communities
WASHINGTON – U.S. Senators Tina Smith (D-MN) and Mike Rounds (R-SD) reintroduced bipartisan legislation to jumpstart economic development and address disparities in access to capital. The bill would strengthen and expand Community Development Financial Institutions (CDFI), which play a critical role in bringing capital and financial services to a wide range of small businesses, homeowners and housing developers. Their legislation—the CDFI Bond Guarantee Program Improvement Act will extend authorization of the CDFI Bond Guarantee Program, while making it more reliable and accessible to smaller CDFIs. This legislation will expand and improve a successful program that operates at no cost to taxpayer and allows CDFIs to access long-term, stable funding. The CDFI Bond Guarantee Program was established in 2010 to provide long-term, low-cost capital to CDFIs, which use the funding for economic development activities in underserved communities. The program’s authorization lapsed in 2014, but it has been extended on a year-by-year basis in annual appropriations bills. Under current program rules, borrowers must have a loan size of at least $100 million – which means that the program can only be used for relatively large projects. “Unequal access to capital and financial services is a key driver of economic disparity around Minnesota,” said Sen. Smith. “This legislation will jumpstart economic development in these communities by expanding and enhancing a program with a track record of effective capital investment and community development.” “Since 2010, the Community Development Financial Institutions (CDFI) Bond Guarantee Program has extended long-term, low-cost capital to underserved communities across America,” said Sen. Crapo. “By reducing the minimum dollar amount for each loan,
U.S. Senator Tina Smith’s Statement on Trump Administration’s Move to Abandon Minneapolis Police Reform
WASHINGTON, D.C — Today, U.S. Senator Tina Smith (D-Minn.) issued the following statement on the Department of Justice’s decision to withdraw the federal consent decree with the Minneapolis Police Department: “I am deeply disturbed by the Trump administration’s decision to abandon the federal consent decree with the Minneapolis Police Department. This decree was based on the Justice Department’s own investigation, which found a pattern of unconstitutional and discriminatory policing practices that have hurt our community, especially Black and Native American people and people with mental illness, for decades. “It’s especially painful that this decision comes on the eve of the fifth anniversary of George Floyd’s murder—the very tragedy that sparked this investigation and the urgent push for reform. I led the call for that federal civil rights investigation because Minnesotans deserve accountability and reform. Walking away from this agreement, after confirming the need for it, is unconscionable. “Thankfully, the City of Minneapolis and Minnesota state leaders continue to stand on the side of justice. I’m grateful that the state-negotiated consent decree remains in place to continue working toward meaningful reform. The Minneapolis Police Department has taken steps in the right direction and is committed to continuing that work even as the federal government walks away. “Every Minnesotan deserves to be safe in their homes and neighborhoods, and that safety must include freedom from unconstitutional and discriminatory policing. This work isn’t finished yet, and we will keep holding ourselves accountable.”
U.S. Senators Tina Smith, Amy Klobuchar Announce Historic Expansions of Clean Energy Across Rural Minnesota
MINNEAPOLIS, MN – Today, U.S. Senators Tina Smith and Amy Klobuchar (both D-Minn.), announced historic funding for clean, reliable and low-cost energy across rural Minnesota. Three rural electric cooperatives with operations in the state will receive funding to deploy clean energy or make energy efficiency improvements. More cooperatives are expected to receive funding in the coming months. Minnesota’s electric cooperatives provide electricity to nearly one-third of the state. Senator Smith was instrumental in securing this funding for rural electric co-ops through her work on the clean energy provisions in the Inflation Reduction Act. The three cooperatives selected that operate in Minnesota are:
U.S. Senator Tina Smith Joins Bipartisan Letter Pressing the U.S. Department of Agriculture to Urgently Address Tribal Food Delivery Delays Nationwide
MINNEAPOLIS, MN – U.S. Senator Tina Smith (D-MN) joined a bipartisan group of senators pushing the USDA to fix problems with Tribal federal food aid programs, which have caused widespread disruptions in food distribution to more than 100 Tribal organizations and some 50,000 people who rely on the program nationwide. The Food Distribution Program on Indian Reservations (FDPIR) provides food to income-eligible households living on reservations, and to American Indian households residing in approved areas near reservations or in Oklahoma. Trust relationships between the federal government and Tribal Nations require the federal government to provide food security to Tribal members. Since April, Tribal
U.S. Senator Tina Smith Celebrates U.S. Trade Mission to Colombia
WASHINGTON, D.C. – U.S. Senator Tina Smith (D-MN) celebrated Lamex Food, Inc.’s participation in a trade mission to Bogota, Colombia, led by the United States Department of Agriculture (USDA) to expand foreign market access for American agricultural products. The Bloomington, MN based food group is one of 23 businesses and organizations who joined the trip from August 13-15 with USDA Under Secretary Alexis M. Taylor to discuss policy and business partnerships that will boost American agricultural exports to Colombia. “Agricultural exports support farming in Minnesota and provide economic benefits to the state,” said Sen. Smith.“This trade mission is a great opportunity to expand market access
U.S. Senators Amy Klobuchar, Tina Smith Announce Funding to Help Grow Global Export Markets for Minnesota Producers
MINNEAPOLIS – U.S. Senators Amy Klobuchar and Tina Smith (both D-MN) announced funding from the Regional Agricultural Promotion Program (RAPP) to help grow export markets for American farm and food products around the world. The additional $300 million investment will go to organizations across the U.S. to implement market development projects focusing on a wide range of products and agricultural markets. “Boosting America’s agricultural exports is great for Minnesota farmers and rural economies,” said Klobuchar. “This funding will help farmers enter the global export market and maintain America’s leadership in agricultural exports.” “Minnesota has long been a linchpin in America’s agricultural market, and
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