States want to tax fossil fuel companies to create climate change superfunds

"Last year, the nonprofit Climate Central launched an online database to track the most costly weather- and climate-related disasters across the country. The effort was led by the same lead scientist who tracked those costs for the National Oceanic and Atmospheric Administration-until the Trump administration axed the project in May. In 2025, the US experienced 23 such disasters with costs totaling at least $1 billion, for a total of $115 billion, Climate Central concluded."

"Meanwhile, home insurance rates are rising, and insurance companies are increasingly backing out of areas with high risks from hurricanes or wildfires. Researchers have also documented how climate change causes premature deaths and increasing health care costs as it fuels disease and other health problems. Illinois is struggling with worsening flooding, heat waves, and air pollution-including from Canadian wildfires. All bring heavy costs."

Climate Central created an online database to track costly weather- and climate-related disasters. In 2025 the United States suffered 23 billion-dollar disasters that totaled about $115 billion. From 1980 through 2025 the United States recorded 426 billion-dollar weather and climate disasters totaling more than $3.1 trillion in damages. Home insurance rates are rising and insurers are withdrawing from high-risk hurricane and wildfire areas. Climate change is linked to premature deaths and higher health care costs by exacerbating disease and other health problems. Illinois faces worsening flooding, heat waves, and air pollution, and proposed superfund climate legislation aims to make polluters pay and fund local infrastructure and relief. A Chicago homeowner’s repeated sewage flooding and lack of insurance coverage exemplify infrastructure and coverage gaps the legislation targets.

Read at Ars Technica