If it had widespread support in the 'halls of Congress' there'd be more than six cosponsors. And from other states than LA. There'd also be companion Bills in the senate.
This 'gimmee, gimmee - I screwed up and built in a swamp that's also a Hurricane zone Bill' has neither and is going nowhere.
The US taxpayers aren't going to fall for it. The entire state is corrupt - from top to bottom - and 'we' taxpayers and OUR Reps know it.
Want to rebuild, fine, RAISE YOUR TAXES accordingly. If it takes a 150% increase so be it. Can't afford that, move.
Since when are we talking about your home state of Illinois? Or Chicago, or the Daley family, or Rostenkowski, or etc. etc. etc.