spacetoday.net: Space transportation tax credit bill introduced

Posted: Fri, Jun 15, 2001, 2:39 PM ET (1839 GMT)
US Capitol

Several members of Congress introduced legislation Thursday that would provide tax credits for those who invest in new commercial launch vehicle projects. The "Invest in Space Now Act", HR 2177, was introduced in the US House of Representatives Thursday by Reps. Ken Calvert (R-CA) and Solomon Ortiz (D-TX). The bill features 14 co-sponsors, including Dave Weldon (R-FL), vice-chairman of the space subcommittee of the House Science Committee, and former Science Committee chairman James Sensenbrenner (R-WI). The legislation would provide tax credits for those who invest in next-generation launch systems that promise to significant reduce launch costs. ProSpace, a citizens' space lobbying group, has pushed for such tax credits for some time, considering them a more effective way to support the development of new launch vehicles than loan guarantees or NASA's Space Launch Initiative.