Your Money on the BallotUpcoming
Retirement checks rise 3.6% in 2027; healthcare costs shift too
What it means for youSocial Security and SSI payments rise 3.6% in January 2027, about $75 a month on average. Medicare open enrollment runs through December 7, and Part B costs may take back part of the raise.
Around the worldIn the UK, the state pension rises every year by the highest of inflation, average earnings growth or 2.5%, a rule known as the triple lock.
Retirement checks rise 3.6% in 2027; healthcare costs shift too
- The Social Security Administration announced a 3.6% cost-of-living adjustment for 2027, about $75 more per month for the average retired worker, starting in January.
- Most Medicare enrollees pay the Part B premium from that check; Trustees project $209.50 a month for 2027, with CMS due to confirm.
- Social Security's commissioner says the increase gives beneficiaries greater financial stability.
- Critics say it is not enough: in an AARP survey, 76% of adults 50 and older said a projected 3.5% raise would fall short.
▶ PBS NewsHour: inflation report and the Social Security bumpSource: Social Security Administration
Capitol Hill · Federal4 Bills Tracked
Funding, housing, farm aid and defense: where four big bills stand
What it means for youThe funding and housing bills are law. The farm bill and defense bill wait for Congress to return after the elections, and several deadlines land on December 11.
Stopgap Funding Law (H.R. 6500)Signed
No shutdown before December 11; the funding deadline returns after the election.
21st Century ROAD to Housing Act (H.R. 6644)Signed
Changes federal housing and lending rules aimed at easing costs for buyers and renters.
2026 Farm Bill (H.R. 7567)Passed House
SNAP benefits continue for now; the old farm bill expired September 30.
Defense Bill FY2027 (H.R. 8800)Passed House
Sets defense policy, including military health coverage under TRICARE.
Funding, housing, farm aid and defense: where four big bills stand
- Congress returns November 9 after the elections; federal funding runs out December 11 unless lawmakers pass full-year bills or another stopgap.
- The farm bill expired September 30. Republican supporters of the Senate version point to provisions like year-round E15 fuel.
- Democrats on the Senate Agriculture Committee voted no, saying the bill does not go far enough in delaying SNAP cost-sharing changes.
- Senate Democrats blocked the defense bill from advancing in July, citing the Iran war and defense spending growth.
The bills
- Stopgap Funding Law (H.R. 6500) (Signed): Keeps federal agencies funded at current levels through December 11 and extends several expiring programs. Bill page
- 21st Century ROAD to Housing Act (H.R. 6644) (Signed): Aims to boost home building, modernize HUD programs and address large investors buying single-family homes. Bill page
- 2026 Farm Bill (H.R. 7567) (Passed House): Renews farm, food-aid and rural programs; House passed it, Senate version cleared committee 12-11. Bill page
- Defense Bill FY2027 (H.R. 8800) (Passed House): Sets Pentagon policy and authorizes $1.15 trillion for fiscal 2027; House passed it, Senate has not. Bill page
Source: Holland & Knight
National · United KingdomIn Effect
UK cuts VAT on home electricity as Budget nears
What it means for youVAT on household electricity is 0% until 31 March 2027, which the government says takes about £45 off a typical yearly bill. The Budget is on 28 October.
UK cuts VAT on home electricity as Budget nears
- VAT on household electricity fell from 5% to 0% on 1 October 2026 and stays at zero until 31 March 2027.
- The government says suppliers should pass the saving on to all customers, and it expects about £45 off the yearly price cap.
- MoneySavingExpert founder Martin Lewis says £25 is also going onto bills, so the net saving over six months looks closer to £20.
- The Autumn Budget is on 28 October, and the government says any extension beyond March would be considered there.
▶ ITV News: Burnham's first cabinet and the electricity VAT cutSource: GOV.UK
National · CanadaDeveloping
Canada and U.S. trade deal stays in force, but unsettled
What it means for youTariffs on both sides touch goods like steel, dairy, appliances and electronics, and trade-linked jobs. CUSMA still stands, but its future is being negotiated.
From WashingtonOn July 1 the U.S. Trade Representative declined to renew CUSMA for another term, and U.S. tariffs on some Canadian goods remain in place.
Canada and U.S. trade deal stays in force, but unsettled
- On July 1, the U.S. declined to renew CUSMA for another 16-year term, but the agreement remains in force.
- Since September 8, Canada has applied tariffs of 15%, 25% and 50% on about C$27.6 billion of U.S. imports.
- U.S. Trade Representative Jamieson Greer says the pact has flaws, including rules-of-origin loopholes that countries like China exploit.
- An Oxford Economics report for the Canadian American Business Council warns a breakdown could cost hundreds of thousands of jobs on both sides of the border.
▶ Global News: What's next for Canada-U.S. tradeSource: Hashtag Investing
National · NigeriaDeveloping
Nigeria's inflation eases, but food and fuel costs stay high
What it means for youOverall inflation is 14.63%, but food prices are up almost 20% from a year ago. NNPC's ₦66-per-litre petrol discount runs only until 31 October.
From WashingtonSince January 1, 2026, U.S. Proclamation 10998 has limited new visas for Nigerians, and eligible B1/B2 visitor visa applicants must post a bond of up to $20,000.
Nigeria's inflation eases, but food and fuel costs stay high
- Nigeria's headline inflation fell to 14.63% in September, down from 15.39% in August, according to the National Bureau of Statistics.
- Food inflation is still 19.59% a year, so a household spending half its income on food faces prices about 20% higher.
- Some Abuja stations raised petrol to about ₦1,405 to ₦1,409 a litre, and NNPC's ₦66-per-litre discount runs until 31 October.
- High oil prices can lift export earnings and public revenue, but they also raise fuel import costs for transport operators and small businesses.
Source: Nairametrics
National · JamaicaProposed
Jamaica plans budget money to repair ageing urban housing schemes
What it means for youThe programme would cover structural, plumbing and electrical repairs in older urban housing schemes. Funding is planned for the next national budget.
From WashingtonSince January 1, 2026, the IRS applies a 1% tax to remittances sent from the U.S. abroad, including to Jamaica, when paid with cash, a money order or a cashier's check.
Jamaica plans budget money to repair ageing urban housing schemes
- On October 14, Prime Minister Andrew Holness said the next national budget will include money for a repair and maintenance programme for deteriorating housing schemes.
- The programme targets Kingston Western and other urban communities.
- He said many high-rise buildings are 50 to 60 years old, with crumbling concrete and failing sewerage, plumbing and electrical systems.
- It will also address safety issues from resident changes, such as rooftop water tanks and air conditioning units.
Source: Jamaica Information Service
National · Washington & YouIn Effect
U.S. remittance tax and Africa trade decision: what changes abroad
What it means for youIf you send cash from the U.S., a 1% tax applies; bank- or card-funded transfers are generally exempt. Some African exporters await a U.S. trade-benefit decision expected in November.
U.S. remittance tax and Africa trade decision: what changes abroad
- Since January 1, 2026, a 1% U.S. tax applies to remittances paid for with cash, money orders or cashier's checks.
- Transfers paid from a bank account or a U.S. debit or credit card are generally exempt.
- Mexico received $62.5 billion in remittances in 2024, and a Western Union official expects the tax to cut flows by about 1.6%.
- AGOA duty-free access was extended to 2028, but News24 reports the U.S. is expected to rule in November on whether South Africa keeps its benefits.
Source: Border Report
State House · AlabamaSigned
Alabama makes nursing home and hospital Medicaid taxes permanent
What it means for youTwo 2026 laws keep Alabama's nursing home and hospital provider taxes in place for good, which helps pay for Medicaid. Alabama still has not expanded Medicaid to low-income adults.
Alabama makes nursing home and hospital Medicaid taxes permanent
- SB 143 removes the expiration date on fees tied to nursing facility beds.
- SB 145 does the same for a tax that private hospitals pay to the Alabama Medicaid Agency.
- Both bills were sponsored by Sen. Greg Albritton, R-Atmore. Alabama Arise, an advocacy group, says the laws protect Medicaid funding.
- Alabama Arise also notes that the governor and Legislature have not expanded Medicaid to cover adults with low incomes.
Source: Alabama Arise
State House · AlaskaIn Effect
Alaska sets 2026 dividend at $1,000 plus $200 energy payment
What it means for youEligible Alaskans are getting $1,200 total starting October 1: a $1,000 dividend plus a $200 energy relief payment, with the amount set in budget bill HB 263.
Alaska sets 2026 dividend at $1,000 plus $200 energy payment
- Nearly 600,000 Alaskans began receiving payments October 1. Another round is scheduled for October 22.
- Applicants generally must have been Alaska residents for all of 2025. Some people sentenced or incarcerated for a felony that year may be ineligible.
- The House minority caucus argued for the statutory dividend formula, which estimates put near $3,800 per person.
- The multipartisan House majority coalition favored putting more money toward state services, such as schools, Medicaid rates and heating assistance.
Source: Alaska Department of Revenue
State House · ArizonaSigned
Arizona budget adds $6,000 senior deduction and tighter Medicaid checks
What it means for youGov. Hobbs signed an $18.3 billion budget, SB 1847, with $1.4 billion in tax cuts. Seniors get a new $6,000 deduction, and Medicaid and SNAP eligibility checks are stronger.
Arizona budget adds $6,000 senior deduction and tighter Medicaid checks
- The tax package ends taxes on tips and overtime, raises the standard deduction and adds the new senior deduction.
- It also adds a child care expense deduction, a larger child tax credit and property tax exemptions for disabled veterans.
- Senate Republicans say stronger Medicaid and SNAP verification reduces waste and protects taxpayer money.
- Democrats pushed back on the checks. The budget funds extra staff so about 40,000 Arizonans can remain on the state Medicaid plan.
Source: Arizona Capitol Times
State House · ArkansasSigned
Arkansas raises homestead property tax credit to $675
What it means for youHB 1103 lifts the credit that lowers property taxes on your main home from $600 to $675 per parcel. It applies to assessment year 2026, with taxes due in 2027.
Arkansas raises homestead property tax credit to $675
- Rep. Bart Schulz, R-Cave City, sponsored HB 1103. It passed both chambers with no votes against, and the governor's office announced the signing May 1.
- Homeowners must register with their county assessor and show proof of eligibility. Each homeowner gets one credit per year.
- A statewide half-cent sales tax pays counties back for the credits. The state estimates $39.8 million in added credits in 2027.
- Gov. Sanders says the state's tax cuts deliver savings to Arkansans. Sen. Fred Love, D-Little Rock, said a separate income tax cut gives the average person about $50.
Source: Arkansas Democrat-Gazette
State House · CaliforniaUpcoming
California minimum wage rises to $17.40 on January 1, 2027
What it means for youThe statewide minimum wage goes from $16.90 to $17.40 an hour in January. A new law also sets a $19.75 hourly floor for certain farmworkers starting in 2027.
California minimum wage rises to $17.40 on January 1, 2027
- Gov. Newsom announced July 31, 2026, that the statewide minimum wage will increase to $17.40 an hour on January 1, 2027.
- The current statewide minimum is $16.90. The governor's office also cites $20 an hour for fast-food workers and $25 for health care workers.
- AB 2646, signed September 30, sets a $19.75 hourly floor for some farmworkers hired through programs like H-2A starting in 2027.
- California residents doing the same or similar work for the same employer, in the same county and period, also qualify.
Source: Office of Governor Gavin Newsom
State House · ColoradoIn Effect
Colorado funds senior property tax break for 2026 tax year
What it means for youIf you are 65 or older and have owned and lived in your home for 10 years, the state can exempt up to half of the first $200,000 of its value.
State House · ConnecticutSigned
Connecticut's housing law H.B. 8002 requires towns to plan for growth
What it means for youTowns must now plan for more housing, small projects face fewer parking rules, and fair rent commissions expand. That can affect rent disputes and housing choices near you.
Connecticut's housing law H.B. 8002 requires towns to plan for growth
Source: CT Mirror
State House · DelawareSigned
Delaware's Housing for Every Delawarean Act sets affordable housing goals
What it means for youLarger towns and counties must plan for affordable homes, with a goal of making 20% of homes affordable, and zoning-compliant residential projects get by-right review.
State House · District of ColumbiaApproved
DC budget restores Healthcare Alliance coverage and protects housing vouchers
What it means for youFor one year starting Oct. 1, the DC Healthcare Alliance again covers full medical services, including dental and vision, for adults 21 and older not eligible for Medicaid or Medicare.
DC budget restores Healthcare Alliance coverage and protects housing vouchers
Source: Arent Fox Schiff
State House · FloridaUpcoming
Florida voters decide Amendment 3 on homestead property tax exemption
What it means for youOn Nov. 3, voters decide whether to raise the homestead exemption on non-school property taxes to $150,000 in 2027 and $250,000 in 2028. It needs 60% to pass.
Florida voters decide Amendment 3 on homestead property tax exemption
Source: Florida TaxWatch
State House · GeorgiaSigned
Georgia gives homestead owners a one-time $18,000 assessed-value cut
What it means for youIf you filed a homestead exemption by April 1 and owe property tax, your 2026 bill drops. It is a bill reduction, not a check.
State House · HawaiiSigned
Hawaii sets up program to buy and erase residents' medical debt
What it means for youQualifying residents may have medical debt wiped out without applying. They will get a notice if their debt is bought and canceled.
State House · IdahoSigned
Idaho drops proration of its homeowner's property tax exemption
What it means for youIdaho homeowners get the full homestead exemption regardless of when in the year they apply, as long as they file by the deadline.
Idaho drops proration of its homeowner's property tax exemption
Source: Idaho Legislature
State House · IllinoisSigned
Illinois homeowners keep leftover equity when homes sold for tax debt
What it means for youIf your home is sold over unpaid property taxes, you now keep the money left after the debt is paid. Owners also get more time to pay.
State House · IndianaSigned
Indiana's SB 1 adds homestead credits, with extra $150 for seniors
What it means for youHomeowners get a credit of 10% off their property tax bill, up to $300. Eligible owners 65 and older get $150 more.
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City Hall · AtlantaDeveloping
Atlanta approves tax district extensions; Fulton County opposes
What it means for youThe Council approved the Neighborhood Reinvestment Act, which uses property tax growth for housing and infrastructure. It needs Atlanta Public Schools or Fulton County to agree before moving forward.
Atlanta approves tax district extensions; Fulton County opposes
- On June 15, the City Council voted 13-2 to extend six tax allocation districts, which direct property tax growth to local projects.
- Supporters, including the mayor's office, say the money will fund housing, infrastructure and transit in historically underserved neighborhoods, along with anti-displacement tools.
- Critics say it can divert tax revenue from schools and county services. Fulton County commissioners passed a resolution opposing it on July 15.
- Atlanta Public Schools has not voted. A district spokesperson said the earliest it would vote is December.
Source: WABE
City Hall · New York CityApproved
NYC Council gives final approval to Fort Hamilton Mews housing rezoning
What it means for youThe Council approved an 11-story Bay Ridge building with 292 apartments, 88 of them permanently affordable. It comes as a new fast-track rezoning process begins January 1.
NYC Council gives final approval to Fort Hamilton Mews housing rezoning
- On October 6, Council zoning and land use committees approved BWH Group's project at 9305 Fifth Avenue. The full Council then gave final approval.
- The 88 affordable units are for residents earning 60 percent of area median income. The developer first sought a 14-story building.
- Starting January 1, voter-approved fast-track rules let qualifying affordable housing rezonings in 12 districts skip a Council vote.
- Supporters say the fast track makes every neighborhood help build housing. Council Member Simcha Felder says it takes local voices out of the process.
Source: The Real Deal
City Hall · Los AngelesIn Effect
Los Angeles adopts local rules to phase in state transit upzoning law
What it means for youNear transit, the city is adding low-rise housing incentives while phasing in the state's SB 79 rules, which allow taller apartments near stations, locally by 2030.
City Hall · ChicagoDeveloping
Chicago faces $882 million budget gap as council opposes property tax hike
What it means for youChicago's 2027 budget has an $882.4 million gap. A council bloc says it won't back a property tax hike or per-employee tax; the mayor has not ruled out a property tax increase.
Chicago faces $882 million budget gap as council opposes property tax hike
Source: CBS Chicago
City Hall · HoustonApproved
Houston Council keeps city property tax rate flat for 2026
What it means for youHouston's city tax rate stays at 51.9 cents per $100. A home with a $340,000 taxable value owes about $1,765 a year in city tax.
Houston Council keeps city property tax rate flat for 2026
Source: Community Impact
City Hall · PhiladelphiaDeveloping
Philadelphia weighs 20-year tax break for converting empty buildings into housing
What it means for youNo Council vote yet. Members are weighing a long property tax break for housing conversions, while city schools rely on property tax revenue.
Philadelphia weighs 20-year tax break for converting empty buildings into housing
Source: WHYY
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