Natural disasters in the United States totaled nearly $182.7 billion in 2024, the fourth-costliest year on record. In response, U.S. Senators Adam Schiff (D-CA) and Tim Sheehy (R-MT) have introduced the FIREWALL Act. It would provide refundable tax credits to eligible residents to improve their home’s resiliency to natural disasters. Specifically, the bipartisan bill would cover 50% of the eligible upgrades up to $25,000 for families who make less than $200,000 a year. If enacted, the inflation-adjusted credit would phase out for families making between $200,000 and $300,000. Eligible upgrades include fire-resistant building materials, stormwater barriers and air filtration.
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