{"database": "press", "table": "releases", "rows": [["http://www.reed.senate.gov/news/releases/gao-report-inaction-on-climate-change-could-increase-costs-to-taxpayers", "GAO Report: Inaction on Climate Change could Increase Costs to Taxpayers", "2014-11-20", "2014", "2014-11", "Democrat", "House", "RI", "Jack Reed", "R000122", "www.reed.senate.gov", null, null, "legacy", "11/20/2014\u00a0\u2014\u00a0WASHINGTON, DC \u2013 Congressional inaction on climate change is likely to increase costs to taxpayers for the federal flood and crop insurance programs according to a Government Accountability Office (GAO) report requested by a group of lawmakers including Senators Jack Reed (D-RI) and Sheldon Whitehouse (D-RI). \u00a0The report concluded that, if left unchecked, climate change and related increases in the frequency and severity of extreme weather will likely greatly increase insured and uninsured financial losses across the country.\r\nReed and Whitehouse requested the report along with their colleagues Tom Harkin (D-IA), Michael Bennet (D-CO), Tom Udall (D-NM), and Representative Peter DeFazio (D-OR).\r\n\u201cFrom rising sea levels and coastal erosion to devastating floods caused by historic storms, climate change is having a tangible impact on Rhode Island\u2019s communities.\u00a0 Today\u2019s GAO report provides further evidence that climate change is compounding the risks and costs to individuals and society, not only threatening our environment but our economy, as well.\u00a0 It\u2019s a reminder that we must begin to meet the challenge of climate change without delay,\u201d said Senator Reed.\r\n\u201cClimate change is loading the dice in favor of severe weather, and that puts property and crops at risk all over the country,\u201d said Senator Whitehouse.\u00a0 \u201cIn Rhode Island in 2010, we experienced historic flooding that cost the state over $200 million in damage to our homes, businesses, and infrastructure.\u00a0 We need to prepare for catastrophes like the 2010 floods and account for the costs severe weather could impose on important federal programs like flood and crop insurance.\u00a0 It\u2019s time to wake up to the effects of climate change, including the effects on our nation\u2019s finances.\u201d\r\nThe report finds that between 2007 and 2013, the risk to taxpayers through the federal flood and crop insurance programs has increased 8 percent to $1.4 trillion and is likely to increase dramatically in the future.\r\nClimate disruptions to agriculture, including drought, flooding, and elevated temperatures, have also increased over the last 40 years and are expected to increase in frequency and severity over the next 25 years. \u00a0At the U.S. Department of Agriculture, costs to taxpayers for the federal crop insurance program have increased 68 percent since 2007, and actual costs for subsidies and losses have more than doubled since 2001, reaching $7.6 billion in 2012.\u00a0 The expected rise in temperatures and changes in precipitation could substantially increase the risk to taxpayers through the federal crop insurance program.\r\nFEMA is already $24 billion in debt due to extreme weather events like Superstorm Sandy that wreaked havoc along the Eastern seaboard. \u00a0Additionally, the GAO in 2006 labeled the National Flood Insurance Program as \u201chigh risk\u201d for long-term insolvency. \u00a0According to GAO, hurricane-related fiscal losses due to increased storm severity and climate change could increase up to 50 percent by 2040 and 110 percent by 2100.\r\nThe GAO made two recommendations for FEMA and USDA to better manage the risk to taxpayers:\r\n \r\nFEMA should update building standards for floodplain management, including additional flood-proofing for resilience to sea-level rise and extreme weather events.\r\nUSDA should incorporate climate change resilient agricultural practices into their \u201cgood farming practices\u201d guidance, such as conservation tillage, water conservation, and modified crop planting dates to sustain long-term production in a changing climate.\r\n \r\nIn addition to the guidance from the GAO to help address the sustainability of the insurance programs, the lawmakers believe Congress must act to address the underlying problem \u2013 climate change \u2013 to tackle the immediate and long-term risks to taxpayers.\r\nClick here to download the full report.\r\n\u00a0-end-\n\t\t\n\t\t\t\n\t\t\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\tPrint\n\t\t\n\t\t\n\t\t\t\n\t\t\tEmail\n\t\t\n\t\t\n\t\t\t\n\t\t\t\t\n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\t  \n\t\t\t\n\t\t\n\t\t\n\t\t\t\n\t\t\t\tTweet", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": 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