The country’s deadliest weather event of the year could equate to more than $20 billion in economic losses.
Accuweather estimated the economic damage caused by the July 4 floods in Texas could range from $18 billion to $22 billion. That includes the cost of recovery efforts, cleanup, insurance claims and effect on local tourism.
The flash flooding that ravaged the Texas Hill Country already killed at least 94 people as of Monday at 4 p.m., the AP reported, including 27 campers and counselors at Camp Mystic, a Christian camp for girls established in 1926. On Sunday, 41 people were still missing.
State officials say the river rose more than 26 feet in less than an hour. With more rain forecast for this week, flooding could continue.
The National Weather Service didn’t issue a flash flood warning until after almost a foot of rain had fallen, NPR reported. The warning also came in the middle of the night when people were asleep.
Democratic lawmakers are blaming President Trump’s cuts to the National Weather Service for what they believe to be the organization’s failure to effectively warn and evacuate residents.
Democratic Rep. Joaquin Castro of San Antonio has called for an investigation. White House press secretary Karoline Leavitt insisted the officer were fully staffed, calling the disaster “an act of God.”
Both President Trump and Gov. Greg Abbott have signed disaster declarations for the area.
The most severely affected area is in Kendall and Kerr counties, which are predominantly rural. About 100,000 people live in the two counties. Camp Mystic is about 120 miles west of Austin and about 90 miles northwest of San Antonio.
The deadly floods came just a few weeks after Trump said he wants to eliminate the Federal Emergency Management Agency after the 2025 hurricane season.
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