The Heritage Foundation's report examines the lessons learned from Hurricane Sandy, emphasizing the need to improve preparedness and response to natural disasters in the U.S. It advocates for a reduction in federal disaster declarations to allow FEMA to focus on catastrophic events, increased state responsibility, and the vital role of local communities and organizations. The report also highlights the effective mobilization of the National Guard and Coast Guard during Sandy, suggesting a need for continued support and resources for these entities in future emergencies.