Bill Introduced in Congress Would Secure U.S. Leadership in Space
Bill Introduced in Congress Would Secure U.S. Leadership in Space
Bipartisan Measure Would Treat Spaceports Like Airports
Adversaries, such as China, are heavily investing in space infrastructure. U.S. lawmakers must counter by accelerating the development of our own space infrastructure. With the number of launches from the U.S. continuing to grow, doubling in just the last seven years, increased investment in spaceports and other space-related infrastructure is needed now more than ever before.
As adversaries like China continue to expand their presence in space, it’s imperative the United States takes decisive action to bolster our own capabilities."
Senator Marco Rubio (R-FL)
Projects such as airports and docks currently qualify for tax-exempt municipal revenue bonds, which attract private investment for critical infrastructure projects. Spaceports should be afforded the same options to garner needed investment for a rapidly evolving industry.
U.S. Senators Marco Rubio (R-FL) and Ben Ray Luján (D-NM) and U.S. Representatives Neal Dunn (R-FL) and Salud Carbajal (D-CA) recently introduced the Secure U.S. Leadership in Space Act of 2024 to designate spaceports as eligible for tax-exempt municipal revenue bonds to incentivize investment in spaceport infrastructure.
“In the race for space dominance, we cannot afford to fall behind. As adversaries like China continue to expand their presence in space, it’s imperative the United States takes decisive action to bolster our own capabilities," Senator Rubio said. "The Secure U.S. Leadership in Space Act of 2024 is a critical step towards ensuring our nation maintains its competitive edge.”
“As our adversaries are quickly investing in space infrastructure, our country cannot fall behind. With spaceports in New Mexico and across the country, I’m proud to introduce this bill that creates pathways for public and private partnerships to ensure our country remains on the forefront of space innovation,” said Senator Luján.
“Given the global instability, the U.S. must prioritize the development of our space infrastructure to remain competitive with our adversaries," Congressman Dunn said. "Our airports and seaports receive tax-exempt bonds, and our spaceports should have the same opportunity. This would incentivize better private-public partnerships that bolster innovation and spur economic growth.”
“As the Representative for Vandenberg Space Force Base, our nation’s West coast range, my communities and I are seeing the firsthand reality of the exponential increase in commercial space launches year after year," added Congressman Carbajal. "Opening public-private revenue sources like municipal bonds, which were a foundational tool to meeting the nations’ needs when our new frontiers were the ocean or the air, will help us meet this important moment in the development of our space economy.”
The legislation comes on the heels of the inclusion of tax-exempt status for spaceport bonds as a strategic decision to bolster America’s competitiveness in the global space arena by the U.S. House of Representatives Select Committee on the Strategic Competition between the United States and the Chinese Communist Party.
“This strategic policy change empowers our state and national leaders to leverage the power of financial markets to accelerate space infrastructure development and bolster the economy. Florida leads the nation in prioritizing space transportation development through our designation of space as a mode of transportation," said Rob Long, president and CEO, Space Florida. This policy change will help bring that same level of investment to states across the nation, signaling to investors that space infrastructure is a viable investment that helps revolutionize the way we approach the space economy, all while reducing the burden on taxpayer dollars.”