(1) NATIONAL POLICY ON THE COMMERCIAL USE OF SPACE (For Release at 2:00 P.M. EDT Friday, July 20, 1984)|
Private sector investment and involvement is essential if the enormous commercial potential of space is to be developed. The key to the success of industrial research and manufacturing in space and the development of space-based service is a clear policy defining government's role in encouraging private sector space-based activities that will benefit life on earth.
The President today issued his National Policy on the Commercial Use of Space. The policy extends to four general categories:
I. Economic Initiatives:
Tax laws and regulations which discriminate against commercial space ventures will be changed or eliminated. Such changed will be subject to revision in accordance with decisions made on fundamental tax reform later this year.
II. Legal and Regulatory Initiatives:
Laws and regulations predating space operations will be updated to accommodate the commercial use of space.
III. Research and Development Initiatives:
In partnership with industry and academia, government will expand basic research and development which may have implications for investors aiming to develop commercial space products and services.
IV. Initiatives to Implement the National Policy on the Commercial Use of Space:
Since commercial developments in space often require many years to reach the production phase, entrepreneurs will receive assurances of consistent government actions and policies over long periods.
Following are details of these initiatives.
The Administration will take the following initiatives to facilitate the commercial use of space:
These proposed changes are in reference to the current tax law. They would, of course, be revised in accordance with decisions made on fundamental tax reform later this year.
Legal and Regulatory Initiatives:
Research and Development Initiatives:
Initiatives to Implement the National Policy on the Commercial Use of Space: