House Science Committee Approves Changes To Space Law

schwit1 writes: In a series of party line votes, the House Science Committee has approved a number of changes to the laws that govern the private commercial space industry. Almost all of the changes were advocated by the industry itself, so in general they move to ease the regulatory and liability burdens that have been hampering the industry since the 2004 revisions to space law. While it is very unlikely commercial space can ever get free of strong federal regulation, these changes indicate that they can eventually get some of the worst regulations eased.

Comments

Free Market Republicans at their Finest

[thrich81]

They extended the law which gives commercial companies $2.2 billion of free liability insurance, courtesy of the taxpayers.
"The same voting pattern followed on commercial launch indemnification, which expires at the end of 2016. The bill proposed a seven-year extension from the end of 2016 to 2023. The committee approved Knight’s amendment to extend the cost-sharing arrangement to the end of 2025. The Democrats wanted an extension to 2020.
Under law, companies are responsibility for damages from a launch up to $500 million. The federal government covers any damages from $500 million to $2.7 billion. Companies are responsible for any damages above that level."