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SPACE CORPORATION ACT

Request to the 117th US Congress
On behalf of the Foundation For The Future

Support for the SPACE Corporation Act of 2021

REQUEST

The Foundation for the Future, to initiate debate and consideration on the future of space development and the urgency (for the primacy of the United States) to support a public-private sector federally chartered corporation for space infrastructure and enhancement of space projects, supports the introduction and passage, in the 117th Congress, of the "Space Public-private Advanced Commercialization Enterprise" SPACE Corporation Act of 2021. The proposed bill seeks to build on the traditional bi-partisan support for NASA and extend this support towards the commercial, government, national defense and other purposes of space development, enhanced by Congressional Committee and legislative process including Congressional review and support.

 

BACKGROUND

The SPACE Corporation Act of 2021 builds upon the priority bi-partisan and US primacy in space policy that was initiated during the Kennedy-Johnson Presidencies in direct response to Sputnik, Soviet manned space travel, and our directive to be the first on the Moon with Apollo. The Foundation for the Future supports the precedents of Congress in passing federally chartered corporations, such as COMSAT Act, to move the US forward in telecommunications satellite technology, and other corporate bills in our past to deal with important national needs, such as electric power development with the Tennessee Valley Authority during the depression era. We face a similar "race" to space which requires a joint public- private sector entity designed to fund and support space development and infrastructure, similar to the building of the Erie Canal, the Transcontinental Railroad, and our air, sea, and road highways serving the public. Now we must focus on Space.

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 John Chwat, Director of Government Relations at johnchwat@mckeongrp.com

The SPACE Corporation Act of 2021

GOAL

To ensure American domination of space and open the vast opportunities of the space economy to the American people.

 

TOPLINE

The SPACE Corporation Act of 2021 seeks to create a federally chartered, public-private corporation for infrastructure development in space. The SPACE Corporation will provide an avenue for commercial space investment, financing, and project development that does not currently exist.

THE SPACE PUBLIC-PRIVATE ADVANCED COMMERCIALIZATION ENTERPRISE (SPACE) CORPORATION WILL:

  • Generate American jobs and open the space economy to the American public.

  • Prevent foreign competitors from challenging US preeminence in space.

  • Spur technology development and innovation.

  • Enhance discovery and inspire future generations.

 

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.