Space and Aeronautics Prize Act

H.R. 1021, the Space and Aeronautics Prize Act, would establish a new federal agency called the National Endowment for Space and Aeronautics. This agency would be responsible for awarding cash prizes to individuals or private companies that achieve specific breakthroughs in space technology, research, and flight demonstrations.

The bill’s primary goal is to inspire public interest in space exploration and accelerate innovation by incentivizing private sector competition. Notably, the legislation mandates a specific prize for the first private spacecraft to carry at least one person into orbit and return them safely to Earth. For everyday citizens, this could lead to more rapid advancements in commercial space travel and the development of new technologies through public-private partnerships.