Akin Space Law, Regulation And Policy Update | May 18, 2026

Another week, another reminder that space and defense come with sky‑high costs. Congress is pushing back on a proposed 23% cut to NASA’s budget with a $24.4 billion plan, while the Trump administration has requested congressional approval for a $1.5 trillion defense budget. Meanwhile, the Congressional Budget Office estimates the Golden Dome missile defense initiative could carry a $1.2 trillion price tag over the next two decades.

Across the globe, the space race continues to heat up. The U.S. and China are increasingly competing over space-related projects in Argentina and Chile. At the same time, the U.S. and six allies are developing a joint concept of operations to better defend space assets, while the European Space Agency is advancing its reusable “Space Rider” orbital vehicle, capable of months-long missions and return-to-Earth payloads.