New laws and changes in 2014 - KXXV-TV News Channel 25 - Central Texas News and Weather for Waco, Temple, Killeen |

New laws and changes in 2014

Posted:
WASHINGTON D.C. - It's not a new year without new laws and changes, many of which will take effect starting on Wednesday.

From gas prices to milk prices, the new year will impact everyone in some way.

Some agencies, such as AAA predict gas will cost an average of $3.43 a gallon in the new year. That's down from 2012-2013 and the trend is expected to continue to decline. In 2013, the average gallon of gas was $3.48.

While gas prices fall, other products like milk might be going up in the new year, but at least not right away or not at all. The new Farm Bill has sparked some concern about milk prices jumping to seven dollars a gallon. That's only if congress doesn't work out a new measure to avoid the hefty price increase. 

Say goodbye to the popular 60 and 40 watt incandescent bulbs that have been around for years. Those will be taken of the shelves and replaced with energy-efficient bulbs. This is part of a 2007 energy efficiency law. Experts say upgrading just 15 of the old bulbs could save around $50 dollars on your electricity bill. 

The new year will also boost prices of homes. Some good news for home sellers. A reading from S&P shows home prices jumped 13.6% in October, compared to the same time a year ago. That's the largest 12 month gain since the height of the housing bubble. Even though mortgage rates are slowly coming up, they're still low by historical standards.

More than two million people will be covered under Obama care starting on the 1st of January. That's how many people signed up in the federal and state systems. The administration predicted that three million people would be signed up. 
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