Bipartisan Bill Bolsters U.S. Commercial Space Industry
Florida U.S. Senators Marco Rubio and Rick Scott have introduced legislation to bolster the American commercial space industry.
The American Space Commerce Act of 2020 promotes U.S. space business by extending a benefit from the Tax Cuts and Jobs Act which allows for certain deductions by American space companies.
The legislation also creates a requirement that companies can utilize the tax benefit only if “the spacecraft is substantially manufactured in the United States.”
Rubio and Scott join fellow republicans Ted Cruz and Roger Wicker, along with Democrat Dianne Feinstein, introducing the bill in the Senate.
The bill aims to “strengthen the space industry’s public-private partnerships with American companies and ensure that our nation continues to be a global industry leader,” said Sen. Rubio.
The bill comes on the heels of SpaceX’s launch of NASA astronauts to the International Space Station from Kennedy Space Center -- part of a $6 billion partnership with private companies to ferry astronauts to the station.
The bill is receiving bipartisan support, and a companion bill has been introduced in the House by Florida U.S. congressmen Charlie Crist (D) and Bill Posey (R).