While you were sleeping, we compiled the biggest stories of the day in one place. Each story has a quick and easy summary, so you're prepared for whatever the day brings. Just click on the links if you want to know more!
1. Florida homeowner insurance crisis could worsen as more companies downgraded
Since January, up to 400,000 homeowners in the Florida have been dropped by their insurance carrier or have received non-renewal letters.
This week, the Insurance Information Institute revealed 27 more companies will have their rating lowered by Demotech, the organization that rates insurance companies.
This could reveal more companies on the brink of insolvency, adding to what's being described as a homeowners insurance crisis in Florida.
2. Florida's back-to-school tax-free holiday includes new items
For the first time, Florida has included what it calls "learning aides" as part of the back-to-school tax-free holiday. Shoppers won't pay sales tax on toys that teach.
Learning aides like puzzles priced up to $30 are tax-free. Most clothing items and shoes $100 or less are also tax-free. Last year it was items $60 or less.
The Back-To-School Sales Tax Holiday runs through Aug. 7 and applies to online purchases as well. For a complete list of tax-free items, click here.
3. New pay agreement reached for St. Lucie Public Schools teachers, staff
St. Lucie Public Schools and union leaders negotiated a new compensation schedule for the 2022-2023 school year.
Starting salaries for district teachers will increase from around $45,000 a year to $47,500. The minimum pay for all support staff is also increasing to $15 per hour.
All employees are scheduled to receive a one-time bonus of $426.44 on August 12, which represents a take-home paycheck of $300.
4. Mega Millions hits third highest jackpot ever
Mega Millions is expected to have its third-largest jackpot ever on Tuesday, reaching at least $810 million.
If you take the lump sum, the amount will be somewhat lower than the advertised jackpot. For instance, April's $20 million jackpot win paid out $11.9 million in cash.
Numbers will be drawn for Tuesday’s drawing at 11 p.m. ET. If no one hits all six numbers on Tuesday, Friday’s jackpot will be even larger.
5. Ghislaine Maxwell sent to Florida low-security federal prison
Jeffrey Epstein's confidant Ghislaine Maxwell, convicted of sex trafficking, has been transferred to a low-security federal prison in Florida to serve out a 20-year sentence.
The Federal Bureau of Prisons confirmed the move to Tallahassee FCI, which was said to have been carried out on Friday, according to a source on Maxwell's defense team, ABC News reported.
60-year-old Maxwell was convicted of conspiring with Epstein to recruit minors to abuse them.
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On This Day In History
On July 26, 1775, the U.S. postal system is established by the Second Continental Congress, with Benjamin Franklin as its first postmaster general. Franklin (1706-1790) put in place the foundation for many aspects of today’s mail system.
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