Winter Storm Uri Costs Slowly Reported by Texas Local Governments
“Texans are angry,” said State Representative Ana Hernandez, who is the Vice-Chair of the Texas State Affairs Committee to begin yesterday’s hearings about the impact of Winter Storm Uri.
Officials are still assessing the cost of last week’s events. The Perryman Group, a Texas-based economic research firm, is projecting the cost of last week’s storm could total $197 billion on the low end and $295 billion on the high end. Overall, the total price could amount to more than the impact from Hurricane Harvey (2017).
We are beginning to see costs for local government expenses slowly reported. If this type of damage is not paid for by FEMA, federal or state relief, or insurance we expect other types of liquidity or long-term financing options could largely cover expenses.