Can State Budgets Withstand Natural Disasters?
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Can State Budgets Withstand Natural Disasters?
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Story: Wildfires have once again made headlines, highlighting the growing intensity and frequency of natural disasters across the United States. And these disasters leave more than destruction in their wake; they have lasting effects on communities, including expensive recovery bills. In fact, 2024 was the fourth-costliest year on record with 27 natural disasters that resulted in at least $1 billion in damage each.
In this episode of “After the Fact,” we speak to Pew’s Colin Foard and Caitlyn Wan Smith about how states can prepare better financially for natural disasters rather than reacting to emergencies. And Kimiko Barrett, a research and policy analysist with Headwaters Economics, discusses why wildfires pose a particularly difficult challenge to state budgets and local communities.