DEMOCRATS FLAG FLOOD COSTS: Flooding has gotten worse as temperatures rise, and it’s becoming more expensive to deal with, according to a new report from Democrats on the Joint Economic Committee. The analysis estimates the total cost of flooding in the U.S. to be between $179.8 and $496 billion each year.
Putting it into perspective: The amount in damages due to flooding amounts to 1-2% of GDP in 2023. This range is higher than previous estimates, according to the report, which put the cost of either a subset of the damages or a subset of floods between $4.4 billion and $82.7 billion.
