OFFICIALS LEGISLATION INTEREST GROUPS PUBLIC STATEMENTS COMMITTEES VETOES

Budget Committee Launches Investigation into Climate Change-Fueled Insurance Crisis

Letter

Date: Nov. 2, 2023
Location: Washington, D.C.
Issues: Economy and Fiscal Business, Consumers, and Employees

"The Committee is increasingly concerned about the potential economic consequences of an eventual widescale decline in property values caused by increasing exposure to climate risks and the attendant increase in insurance premiums and decrease in insurance availability. Should such a situation come to pass, the effects on households--and federal revenues and spending--would be quite damaging and long-lasting, as we saw during and after the 2008 financial crisis."


Source
arrow_upward