Senate Bill Could Require Report on Foreign Investment in US Space Tech
Sen. Marco Rubio, R-Fla., reintroduced a bill this week that could require the administration to report on foreign investment in the U.S. space industry. The Space Protection of American Command and Enterprise Act would mandate an interagency annual report to Congress on foreign investment in “U.S. space exploration, manufacturing, telecommunications, and national security, including the countries of origin, sources of funds” and other information. It would also require the White House’s National Space Council to report on “investment competition” -- specifically from China and Russia -- aimed at leapfrogging “American economic leadership in commercial space,” including through intellectual property theft.
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Another provision would require SEC filings for certain foreign investment in U.S. companies involved in “critical” space technologies. “As China continues its aggressive agenda to surpass the United States as the global leader in space industrialization, we must take swift and decisive action to protect our technological investments and prevent the [Chinese Communist Party] from infiltrating American companies and stealing our intellectual property,” Rubio said.