WASHINGTON, D.C. - Today, Congressman Carlos A. Gimenez joined Rep. Neal Dunn (FL-02) and Rep. Salud Carbajal (CA-24) as an original co-sponsor on a bill to ensure the United States remains competitive and secure in space . The Secure U.S. Leadership in Space Act of 2024 would amend the tax code to treat spaceports like airports and seaports by allowing them to receive tax-free bonds.
As Communist China and Russia continue to aggressively invest in their space programs, we must ensure the United States remains competitive. To do this, the IRS tax code should be amended to allow spaceports to expand and invest in critical infrastructure.
“Proud to join my colleagues in a bill that ensures the United States remains a leader in space while fostering increased development of spaceport opportunities in South Florida,” said Rep. Gimenez. “This legislation would amend the tax code to accelerate space infrastructure development and spaceport capabilities. Amid increased threats from Communist China and Russia, it is imperative that America continue to lead the charge in space”
“Given the global instability, the U.S. must make development of our space infrastructure a priority to remain competitive with our adversaries,” said Rep. Dunn. “Our airports and seaports receive tax-exempt bonds, and our spaceports should receive the same. This would incentivize private-public partnerships that bolster innovation and spur economic growth.”
“As the Representative for Vandenberg Space Force Base, our nation’s West coast range, my communities and I are seeing the firsthand reality of the exponential increase in commercial space launches year after year,” said Rep. Carbajal. “Opening public-private revenue sources like municipal bonds, which were a foundational tool to meeting our nations’ needs when our new frontiers were the ocean or the air, will help us meet this important moment in the development of our space economy.”
“We know that the Chinese Communist Party does not play by the rules when it comes to space. The Secure U.S. Leadership in Space Act of 2024, which acts on one of the recommendations outlined in the Select Committee’s bipartisan policy report, will ensure the United States can win in space,” said Chairman Mike Gallagher. “This act allows American business to use municipal bonds to expand American space launch capacity at spaceports. We want American innovation leading the charge in space, not the Chinese Communist Party.”
“Thank you to Sens. Rubio and Lujan, and Reps. Dunn and Carbajal for propelling this important financial and national security policy forward,” said Rob Long, President and CEO, Space Florida. “This strategic policy change empowers our state and national leaders to leverage the power of financial markets to accelerate space infrastructure development and bolster the economy. Florida leads the nation in prioritizing space transportation developments through our designation of space as a mode of transportation. This policy change will help bring that same level of investment to states across the nation, signaling to investors that space infrastructure is a viable investment that helps revolutionize the way we approach the space economy, all while reducing the burden on taxpayer dollars.”
Congressman Carlos Giménez represents Miami-Dade County and the beautiful Florida Keys. He is the only Cuban-born Member of the 118th Congress, having fled his homeland shortly after the Communist takeover of the island. He is the first career firefighter paramedic elected to the House of Representatives and served as the former Fire Chief of the City of Miami and Mayor of Miami-Dade County. He serves on the House Armed Services Committee, the Homeland Security Committee, and the Select Committee on China.