I don't think this particular example is a very cost effective way to raise my own status. This kind of thing is obviously a cost effective way for politicians to raise their status since they generally receive a disproportionate share of the credit and the costs are shared widely so they pay a relatively small proportion of the cost. That is why we see so much of this kind of proposed regulation (of course proposing it and then not following through is arguably even more cost effective than actually passing legislation on the issue).

I can think of much more cost effective (and more fun) ways to raise my own status in those contexts where I care about it.