Climate change events such as floods, extreme heat wildfires and hurricanes cost the US economy $120 billion per year, according to the White House Office of Management and Budget.
Such events could be dwarfed by future costs if greenhouse emissions are not abated added the government in a briefing.
According to the assessment US GDP could be reduced by 3% to 10% annually by 2100 with Federal revenues declining by 7.1%, the equivalent of $2 trillion per year, in the worst-case scenario.
Impacts are expected on Federal expenditures on crop insurance, coastal disaster response, wildland fire suppression and the loss of 12,195 individual federal buildings and structures to flooding under 3 meters of sea-level rise.
