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Photo: Jeffrey Greenberg/Education Images/Universal Images Group via Getty Images

Social Security benefits for approximately 70 million Americans will increase 5.9% next year, the Social Security Administration announced Wednesday.

Why it matters: It's the largest cost-of-living adjustment in 39 years as inflation continues to tick up largely from supply chain issues, according to AP.

The big picture: The increased payments will begin for more than 64 million Social Security beneficiaries in January 2022.

  • Increased payments to approximately 8 million people on Supplemental Security Income will start Dec. 30, 2021, the SSA said. Some Americans receive both benefits.

Go deeper: Social security funds could deplete earlier than expected due to pandemic

Go deeper

Oct 14, 2021 - Health

WHO: Tuberculosis deaths rise for 1st time in over a decade due to COVID

A doctor checks the chest X-ray of a patient in Hyderabad, India. Photo: Noah Seelam/AFP via Getty Images

The number of deaths from tuberculosis rose last year for the first time in more than a decade, the World Health Organization said Thursday.

Why it matters: The data underscores the COVID-19 pandemic's toll on tackling other, preventable diseases worldwide.

Fintech's record year

Illustration: Annelise Capossela/Axios

Massive venture rounds into fintech companies have ballooned this year, pushing up total dollars invested — in just the first three quarters of 2021 — to nearly double the amount in all of 2020, per new PitchBook data.

Why it matters: The maturing of fintech startups means a growing number of companies are able to raise huge later-stage funding rounds as investors look to lock-in their bets.

Ben Geman, author of Generate
1 hour ago - Energy & Environment

Democrats' clean power outlook is very muddy

Illustration: Annelise Capossela/Axios

Here are two big questions as a key Democratic proposal to slash emissions from power generation flounders: how much its demise would sap climate protections, and what might replace it.

Catch up fast: New financial carrots and sticks for utilities to deploy zero-carbon power — the Clean Electricity Performance Program (CEPP) — look unlikely to stay in Democrats' big social spending and climate bill.