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The ~$106 million was an EXIM loan for an Israeli satellite launch. (Export financing) https://www.exim.gov/news/ex-im-bank-approves-1054-million-loan-finance-
by inemesitaffia 9d ago
The ~$106 million was an EXIM loan for an Israeli satellite launch. (Export financing)
https://www.exim.gov/news/ex-im-bank-approves-1054-million-loan-finance-spacex-launch https://www.exim.gov/news/ex-im-bank-approves-1054-million-l...
Unless the solar was also supplied by SpaceX (possible;unlikely) that amount doesn't reflect what SpaceX got
i.e SpaceX gets it's cash immediately and the debtor is the Israeli launch company.
(Does that constitute a subsidy to SpaceX or the foreign company?)
The launch failed and SpaceX was on the hook for the money or a replacement launch as covered here
https://spaceflightnow.com/2017/10/26/israels-spacecom-books-launch-with-spacex-using-pre-paid-amos-6-credits/ https://spaceflightnow.com/2017/10/26/israels-spacecom-books...
There was also financing for other launches like this https://spacenews.com/ex-im-bank-finances-spacex-launch-deal/ https://spacenews.com/ex-im-bank-finances-spacex-launch-deal... and I wonder why it wasn't included. I also wonder if Spacecom, the Israeli provider didn't get other EXIM loans for its launches.
SpaceX has been trying to get actual federal subsidies for ages but has been failing. (RDOF, BEAD)
As for the tax abatement, it's the exact tax abatement other companies have got in the past, not something custom created for SpaceX.
SpaceX spent ~$7 million a day before swallowing xAi (monumental error IMO) I don't know what amount is supposed to be massive compared to its size.