In what its members called a move to cement America’s place as the world leader in space operations, bicameral supporters in the House and Senate introduced the American Space Commerce Act this week to extend existing space launch tax incentives.
“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 U.S. Rep. Bill Posey (R-FL), one of the authors of the bill. “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.”
Specifically, the American Space Commerce Act would extend existing tax incentives for companies that launch space payloads from the United States by 10 years. The bill’s authors alleged this would help free up additional capital for American space companies to invest in new technology and develop still more missions.
Posey first introduced similar legislation in 2020.
He was joined by U.S. Rep. Darren Soto (D) and U.S. Sens. Marco Rubio (R) and Rick Scott (R), all fellow Floridians. Florida is one of the primary centers for U.S. space operations. Rubio and Scott also joined Posey’s previous effort.
“As the U.S. strives to strengthen our leadership in space exploration, it is critical for us to prioritize domestic investments and incentivize companies to launch on American soil,” Soto said. “In Florida, this bipartisan effort would help our busy spaceport in Cape Canaveral continue to grow and thrive.”
Commercial space efforts have grown in recent decades through companies like SpaceX; Boeing Defense, Space & Security; Blue Origin; and more, often supporting NASA operations on top of their own. The new legislation is supported in this private sphere by Space Florida.