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Tax Breaks for Space Companies: Boosting US Launches

New rules offer tax benefits to companies conducting space launches from the United States. This means businesses investing in space vehicles and launch equipment can deduct these expenses from their taxes more quickly. The aim is to support the growth of the American space industry and create new jobs in this sector.
Key points
US space launch companies can receive 100% tax deductions for new equipment and space vehicles.
The tax break applies to investments made from 2024 through the end of 2032.
Supports the development of space technology and job creation in the US space sector.
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Expired
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Additional Information
Print number: 117_S_1968
Sponsor: Sen. Rubio, Marco [R-FL]
Process start date: 2021-06-08
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

American Space Commerce Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_S_1968.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2021-06-08.

What are the main provisions?

Key points include:

  • US space launch companies can receive 100% tax deductions for new equipment and space vehicles.
  • The tax break applies to investments made from 2024 through the end of 2032.
  • Supports the development of space technology and job creation in the US space sector.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Rubio, Marco [R-FL].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

CATEGORIES

Taxes Economy Public Investments