FOR IMMEDIATE RELEASE
MAY 14, 2021 

FOUNDATION FOR THE FUTURE SUPPORTS SENATE "ENDLESS FRONTIER" BILL'S OBJECTIVES, BUT MORE IS NEEDED TO UNLEASH THE PRIVATE SECTOR 

Washington, DC  "We wholeheartedly support this first major, space-related Congressional bill passed yesterday in the Senate Commerce,Science and Transportation Committee, " Tim Chrisman, Executive Director of the Foundation for the Future, said , "especially NASA's objectives, however actions could be made to greatly increase and unleash private capital and investment for US future Space ventures and to meet the challenges of China in their Space Race."

 

Specifically, Tim Chrisman referred to the bill, S.1260, which will be schedule for next week on the Senate floor by the Democratic Majority, and its provisions authorizing over $10B for Fiscal Years 2021-2026 ($2B a year) for human landing systems beyond earth and for $23.5B for the NASA budget.

 

 "These are excellent starting points but the Foundation seeks to attract billions in private investment to go beyond the projects and programs in this bill by Congress Enacting a SPACE Corporation Act, similar to the late President Kennedy creating and Congress supporting a COMSAT Corporation on a other space race which the US won in the international satellite communications system deployment." said Tim Chrisman. He also praised the provisions that embrace private sector commercial opportunities in areas such as, "advanced space suits for space astronauts; space situational awareness operations; Spaceports and launches and much more." The SPACE Corporation Act would permit the corporation to fund a wide range of new and innovative projects to support space discovery,exploration and colonization efforts by the US and to beat Chinese multi-billion dollar investments by their government now underway." We need to step up and create a second Private Federal corporation giving the private sector the ability to develop space in the same way our government in history did for the railroads, waterways, air travel and federal highway system. "Tim Chrisman said that "Congress needs to understand that Chinese commercial investment is Chinese military investment and we need to start immediately to secure private sector multi-billion dollar long term capital for US primacy on the Moon, Mars for the future. This bill speaks to that future."

 

"S.1260 needs to be reconciled with HR 2225, it's House counterpart bill, the NSF For the Future Act," said John Chwat, Director of Government Relations for the Foundation. The final bill must also pass both bodies, be confirmed in a Conference Committee and signed into law by the President, so we have a way to go, he emphasized." The Foundation is seeking to have Congress compliment such legislation on NASA and other space activities with the creation  of a SPACE Corporation, a private federal corporation that can attract private investment and initiate major space programs that will benefit jobs on earth in  the US and with space programs .John Chwat said of S.1260, " that it has a great provision on concerns on working with China in space but contains "waivers" that might override these concerns, and has other provisions on permitting Russian involvement."

 

The Foundation will be exploring its options with the House and Senate on the SPACE Corporation Act as these bills move through the Congressional process.

 

For further information contact Tim Chrisman at tim@f4f.space or johnchwat@mckeongrp.com