REBUILDING

The President said that under the Standford Act of 1988, the Federal Government is partially responsible for the rebuilding after a major disaster, but the Standford Act states that the Federal Gov't can pay "up to 75%" of the rebuilding cost, with provisions for re-payment of those funds.

STANFORD ACT OF 1988

So, yes the Federal Government will assist in the recovery, but it's not a free ride for the states affected.