U.S. Senators Adam Schiff (D-Calif.) and Tim Sheehy (R-Mont.) introduced a new bipartisan bill on Tuesday that aims to help communities and homeowners protect their properties from the growing threat of natural disasters like floods, wildfires, and hurricanes. The bill, known as the Facilitating Increased Resilience, Environmental Weatherization, And Lower Liability Act (or Firewall Act), would provide a federal tax credit for homeowners to retrofit their properties with upgraded disaster protections.
The legislation comes at a time when climate change is increasing the frequency and intensity of natural disasters, creating a critical need for enhanced resilience across the country. The bill’s tax credit would cover up to 50% of the costs of disaster resilience upgrades, such as reinforcing basement walls, installing automatic shutoff valves, or replacing roofs with fire-resistant materials. The credit would apply to homeowners in states affected by federally declared disasters in the past decade.
Schiff emphasized that the bill was inspired by the devastating wildfires in Southern California, where thousands of homes were destroyed, and numerous lives were lost. He noted that the bill could also help address the growing insurance crisis, as insurers pull out of high-risk markets in states like Florida and California.
Sheehy, who has witnessed the aftermath of natural disasters firsthand as a former aerial firefighter, stated that the bill would help alleviate the financial burden of making homes more resilient to extreme weather. The tax credit would be available to families making under $300,000, with a cap of $25,000 for households earning less than $200,000.
The credit would be fully refundable and indexed to inflation starting in 2026. This legislation aims to reduce the financial barriers for homeowners seeking to safeguard their properties from the unpredictable and increasingly destructive forces of nature.
Source: Swifteradio.com
