Jun 22, 2016, 1:31 pm EDT
New estimates have the Social Security increase from the cost-of-living-adjustment (COLA) being tiny in 2017.
According to the estimates, the Social Security increase will only be 0.2%. This comes after three years of the COLA not increasing at all. This would result in Social Security recipients only getting an extra $2 per $1000 received.
The actual Social Security increase from COLA won’t be announced until Fall. U.S. authorities are warning that Social Security will need reform if the service is going to continue. Current projections have trust fund reserves emptying in 2034, reports USA Today. Read
Jun 22, 2016, 12:56 pm EDT
Florida Sen. Marco Rubio announced on Wednesday that he will be running for re-election.
Marco Rubio said that he changed his mind about giving up his Senate seat at the end of the term. The decision comes after many members of the Republican party encouraged him to run again. Texas Sen. Ted Cruz announced his support for Rubio.
Marco Rubio said that he’s sure his opponents in the election will use his change of mind against him, but countered saying that he isn’t perfect. Rep. Patrick Murphy, a Democrat looking to take the Senate seat, criticized Rubio for leaving Florida to take park in his recently cancelled presidential campaign, reports CNN. Read
Jun 20, 2016, 2:45 pm EDT
Donald Trump no longer has Corey Lewandowski as his campaign manager.
Donald Trump’s decision to fire Corey Lewandowski was influenced by several allies in the Republican party and from the voices of his own children. There was also talk of internal feuds between Lewandowski and the campaign’s senior strategist Paul Manafort.
According to unnamed sources in the Republican party, Corey Lewandowski has told people that it was a push from Donald Trump’s children that resulted in him getting fired. Lewandowski has been a controversial figure in the campaign after allegedly assaulting a reporter earlier this year, reports The Washington Post. Read
Jun 16, 2016, 11:23 am EDT
The Philadelphia City Council will be voting today on a proposed soda tax.
The City Council is expected to approve legislation that would add a tax of 1.5 cents per ounce to all sugary drinks and diet sodas. The tax was originally set for 3 cents per ounce, but was lowered in a compromise.
The tax will cause the price of beverages from PepsiCo, Inc. (PEP), The Coca-Cola Co (KO), Dr Pepper Snapple Group Inc. (DPS) and Monster Beverage Corporation (MNST) to increase. Money from the tax will be used to help fund schools, parks and other efforts in the city, reports Philly.com. Read
Jun 15, 2016, 5:02 pm EDT
The pricing of Obamacare may increase next year.
Insurers in 13 major cities around the U.S. are requesting for a price hike in the Affordable Care Act that will amount to premiums that are twice as hefty as the current ones.
The average increase that insurers have requested is only 10% higher than current premiums. In some places, the cost of Obamacare will actually decrease. Read