Since its authorization in 1993, STIM has helped to promote economic growth and competitiveness in the U.S. space industry. To keep pace with the rapidly growing U.S. space industry and heightened competition with foreign adversaries, space launch infrastructure improvements are critical to maintain U.S. leadership in space exploration. The legislation would also refine the funding mechanisms to support new spaceport construction projects and infrastructure updates to operational spaceports across the country. Senators John Hickenlooper (D-CO), Roger Wicker (R-MS), and Ben Ray Luján (D-NM) joined Sen. Cornyn in introducing the bill. There are currently 14 FAA-licensed commercial spaceports in the U.S., with additional spaceport projects planned.