Senators Adam Schiff and Tim Sheehy introduced the bipartisan Firewall Act, a bill aimed at minimizing damage from natural disasters like floods and wildfires by offering a federal tax credit for retrofitting homes with disaster protections. The bill is in response to the increasing frequency and intensity of disasters due to climate change. Schiff was inspired to introduce the bill after devastating wildfires in Southern California. The legislation is also seen as a solution to the insurance crisis in disaster-prone states. The tax credit would cover 50% of the cost of home upgrades, such as installing fire-resistant materials or automatic shutoff valves, with a cap of $25,000 for families making less than $200,000. Families making under $300,000 could still receive up to $12,500. The credit would be fully refundable and indexed to inflation. The bill aims to provide support to families in disaster-prone states who may not be able to afford to make their homes more resilient without assistance. Sheehy, a former aerial firefighter, emphasized the importance of helping families protect themselves from future disasters. The bill would also apply to states with a federally declared natural disaster within the past decade, not just those recently affected by disasters, to help all Americans prepare for hurricanes, floods, tornadoes, and wildfires.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
