The following statement on congressional passage of an extension of space launch indemnification provisions can be attributed to Frank Slazer, Vice President of Space Systems at the Aerospace Industries Association. Please call with any questions. <\/p>\n
Congress has taken a major step to help restore American commercial space launch competitiveness by extending existing space launch indemnification provisions by one year. Since 1986, launch indemnification has established a reasonable cap on how much liability insurance U.S. launch companies must carry. The provision is similar to liability limits in place for foreign launchers and provides a more level playing field for American space launch providers. <\/p>\n
As space launch capabilities have been developed by other nations, our share of commercial launches has decreased significantly. Elimination of government indemnification would continue to drive launch business overseas, while simultaneously increasing the cost of U.S. government launches. By contrast, this cap has never cost U.S. taxpayers a dime. <\/p>\n
Passage of indemnification renewal is a very important step and we strongly urge President Obama to sign the provision into law. AIA looks forward to working with the new Congress to maintain long-term stability for U.S. launch competitiveness by renewing indemnification for a longer period than the current one-year provision. <\/p>\n
Daniel N. Stohr Director, Communications Aerospace Industries Association 1000 Wilson Blvd., Suite 1700 Arlington, Virginia 22209 USA T: 703-358-1078 C: 703-517-8173 dan.stohr@aia-aerospace.org<\/a><\/p>\n Please follow SpaceRef on Twitter and Like us on Facebook. <\/p>\n <\/p>\n See the rest here:<\/p>\n Aerospace Industries Association Statement on Space Launch Indemnification<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" The following statement on congressional passage of an extension of space launch indemnification provisions can be attributed to Frank Slazer, Vice President of Space Systems at the Aerospace Industries Association. Please call with any questions Continue reading