GAO Report: Climate Change Impacts Will Cost Taxpayers $1 Trillion Over Two Decades

Oct 24, 2017

A new federal report predicts that the effects of climate change will cost federal taxpayers a trillion dollars over the next two decades.

Maine Sen. Susan Collins was among those who called for the study from the Government Accountability Office.

“There has not been nearly enough analysis on the consequences, for our economy, for the federal budget,” Collins says.

The Republican senator says the study shows that Congress must invest in initiatives and policies that mitigate the impacts of climate change, and avoid huge additional budget costs.

Collins says simply spending billions on recovery efforts from stronger storms is not an adequate strategy.