Effects of Climate Change and Coastal Development on U.S. Hurricane Damage: Implications for the Federal Budget
Presentation
Presentation by Terry Dinan, Senior Adviser in CBO’s Microeconomic Studies Division, at the Interagency Forum on Climate Risks, Impacts, and Adaptation.
Damage from hurricanes is expected to increase significantly in the coming decades because of the effects of climate change and coastal development. In turn, potential requests for federal relief and recovery efforts will increase as well.
This presentation summarizes CBO’s method of estimating expected hurricane damage, describes the magnitude and types of federal spending associated with hurricane damage, compares the agency’s estimate of current damage with the distribution of estimates of damage in 2075, estimates future federal spending on hurricane damage in 2075, and discusses three options for reducing pressure for federal funding.
