Washington (April 27) – Statement from R.J. Lehmann, R Street Institute senior fellow and director of finance, insurance and trade policy, regarding the passage of H.R. 2922, the PREPARE Act:

“After suffering more than $300 billion in economic losses from natural disasters from 2010 to 2016, already an imposing sum, estimates are that the United States just about matched that total in 2017 alone. Total federal spending on 2017’s natural disasters has topped a record $120 billion. The PREPARE Act represents a bipartisan approach to coordinate disaster preparation by federal agencies and more effectively respond to what has proven a growing risk to taxpayers.”