Washington – Today, Rep. Mike Thompson (CA-04) released the following statement after a new study by the Joint Economic Committee showed that the economic cost of climate-exacerbated wildfires cost the United States between $394 billion to $893 billion per year.
“Our communities have seen firsthand the devastation caused by wildfires, and this new study makes clear the urgent need to address the climate crisis to mitigate future wildfires,” said Thompson. “We simply cannot afford the increasing risk of climate-related disasters. The Inflation Reduction Act is going to help reduce the impact of wildfires but we have a lot of work to do to help prevent these disasters and protect our economies.”
The cost range was calculated by combining estimates from the existing research on the specific costs related to property damage, direct and indirect deaths and injuries, health impacts from wildfire smoke, income loss, watershed pollution, and a range of other factors.