Two congressmen in the Florida delegation have brought back the “American Space Commerce Act” which will encourage American space firms to continue to invest in the U.S., including launching from American soil.
Back in May, U.S. Rep. Bill Posey, R-Fla., introduced the bill with U.S. Rep. Charlie Crist, D-Fla., as a cosponsor. Posey reintroduced the bill last week and he and Crist showcased it this week.
Posey’s bill continues space launch tax incentives currently in place for another ten years with the congressman’s office insisting that doing so will free up more capital that can be invested in new technology and in actual launches.
“Our domestic space launch industry is in our national security interest and America is up against unfair trade practices from nations like China and Russia that heavily subsidize space launches,” said Posey. “Our bill provides a powerful incentive for our space firms to keep investing to support America’s growing commercial space sector, further advancing our leadership in space and securing the ultimate military high ground for years to come. I thank my colleague, Congressman Crist, for joining me in introducing this legislation which is critical to both the state of Florida and our nation.”
“The U.S. aerospace industry plays a critical role in advancing our nation’s space exploration goals, national security posture, and global competitiveness,” said Crist. “I’m proud to work with Congressman Posey to introduce this bill to strengthen American leadership in space. The American Space Commerce Act will help shield the U.S. aerospace industry from unfair trade practices, promote our national security, and protect workers in communities across Florida and America.”
The two congressmen pointed to the U.S. – China Economic and Security Review Commission’s report to Congress back in 2019 which found that “China is taking steps to establish a commanding position in the commercial launch and satellite sectors relying in part on aggressive state-backed financing that foreign market-driven companies cannot match” and “China has already succeeded in undercutting some U.S. and other foreign launch and satellite providers in the international market, threatening to hollow out these countries’ space industrial bases.”
Space Florida is backing the proposal.
“Space Florida applauds the introduction of the American Space Commerce Act by Congressmen Posey and Crist. This bill will ensure that the US remains the world leader in space by supporting the development of domestic launch capabilities. It is the strength, innovation and agility of the commercial space marketplace which best enables American leadership in space,” said Space Florida President and CEO Frank DiBello.
The bill was sent to the U.S. House Ways and Means Committee last week. So far, there is no companion measure over in the U.S. Senate. However, U.S. Sen. Marco Rubio, R-Fla., introduced the Senate version last year in June with the support of U.S. Sen.. Rick Scott, R-Fla., U.S. Sen. Ted Cruz, R-Tex., U.S. Sen. Roger Wicker, R-Miss., and U.S. Sen. Dianne Feinstein, D-Calif., as co-sponsors.
Reach Kevin Derby at email@example.com.