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Hultgren: SPACE Act Facilitates Pro-Growth Environment for Commercial Space Sector (with video)

Press Release From: U.S. House of Representatives
Posted: Thursday, May 21, 2015

Illinois' Cain Tubular, Scot Forge Create Parts for Rocket Engines and Launch Systems

Washington, DC  U.S. Representative Randy Hultgren (IL-14) today delivered a statement on the House floor in support of H.R. 2262, the Spurring Private Aerospace Competitiveness and Entrepreneurship (SPACE) Act of 2015, a bill which supports the growth of the commercial space sector while also providing a smart regulatory environment to protect national security and public safety. Rep. Hultgren is a cosponsor of the legislation which passed the House 284 to 133.

Following are Rep. Hultgren's prepared remarks:

         The space industry represents hundreds of billions in economic investment and thousands of jobs across the United States.

         But it is not just large companies.

         Cain Tubulara small, multi-generational, family owned business in my districtis doing the innovative work necessary for safe, weld-free condensing coils for the next generation of rocket engines.

         Scot Forge is another business in my district, working under an amazing employee ownership model, that is forging the heavy metal parts and casings for multiple launch systems throughout the supply chain.

         The space industry is an engine of economic growth throughout the country and our ability to do this right is vitally necessary to maintain American competitiveness as other nations begin to catch up.

         That is why I rise today to urge my colleagues to support H.R. 2262, the Spurring Private Aerospace Competitiveness and Entrepreneurship Act of 2015.

         The SPACE Act facilitates a pro-growth environment for the commercial space sector.

         It fosters a safety framework that will protect the American public while encouraging the development of new space technologies. This will ensure America's exceptional role is maintained as the most innovative nation.

         This legislation also extends the current risk-sharing structure set to expire next year, and requires an update on how the FAA calculates maximum probably loss associated with potential spaceflight accidents.

         This ensures that U.S. space companies won't be forced to go overseas to compete.

         The SPACE Act also establishes a legal framework for government property rights of resources obtained from asteroids, giving U.S. companies the legal assurance they need to invest in, and develop, in-situ space resource exploration and utilization technologies.

         The successful exploration and use of in-situ asteroid resources is an important step in humanity's development and is in the national interest of the United States.

         The SPACE Act helps develop the commercial space industry, ensures commercial space lawsuits are treated fairly, and allows the commercial space industry to grow like never before.

         For these reasons, I strongly recommend my colleagues support commercial space with a vote for the SPACE Act of 2015. 

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