WHY THIS IS NECESSARY?

Right now, there is no bridge between the missions of NASA and the Space Force, and what private American companies are doing. NASA is focused on exploration and the Space Force is focused on security. Concurrently, some private American companies are successfully breaking into the space tourism market. However, there is currently no clear avenue for broader commercial development of space. This bill does not in any way encroach upon the mission of NASA or the Space Force, or what U.S. private sector companies are already doing. In fact, this will complement all current U.S. space activities, as broader infrastructure development will benefit existing efforts in space exploration, national security, and space tourism.

MODEL AND PRECEDENT

The United States has always been visionary in capitalizing on new opportunities both through sheer audacity and smart use of public policy and government incentives. We are built on a legacy of great public-private partnerships, including great American achievement such as including the Erie Canal, the Transcontinental Railroad, the U.S. energy grid, and many of our roadways, airports and seaports. Foreign nations are heavily investing in space access and infrastructure. The commercial space race has already begun. Space is today’s frontier and we are on the cusp of opening up untold opportunities if there could be an additional avenue to focus our attention and efforts.

The SPACE Act of 2021 is modeled after the successful Commercial Satellite (COMSAT) Act of 1962 (P.L. 87-624). The COMSAT Act created the Communications Satellite Corporation to build a satellite telecommunications system which did not exist previously. President Kennedy received overwhelming bipartisan support for this effort in Congress. Seven years later, on July 20,1969, the President Nixon spoke by telephone with Neil Armstrong and Buzz Aldrin on the surface of the moon, simultaneously televised around the Globe using the communications satellites created by the COMSAT Act of 1962.

WHAT THIS BILL DOES NOT DO

This bill does not create a new government Agency or Bank requiring additional Congressional Appropriations or U.S. taxpayer funding outside of start-up costs. Rather, the public-private SPACE corporation will be self-sustaining and have the authority to issue bonds and offer optional finance mechanisms to develop space into the future. This allows the Corporation to be responsive to shareholders, stakeholders, and the American public without expanding government or leaving taxpayers on the hook.

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For additional information on the SPACE Corporation Act and how to support its passage, please contact Tim Chrisman, Executive Director, Foundation for the Future at tim@f4f.space or Morgan Muchnick, Director of External Affairs morgan@them2group.net