Commercial Space Transportation: FAA Continues to Update Regulations and Faces Challenges to Overseeing an Evolving Industry, Statement of Heather Krause, Director, Physical Infrastructure, Testimony Before the Subcommittee on Aviation, Committee on Transportation and Infrastructure, House of Representatives [open pdf - 308KB]
From the Highlights: "The commercial space transportation industry provides launch services for government and private customers that carry objects, such as satellites and vehicles with scientific research, or passengers to or from space. Continued growth and evolution in the industry is expected as reliance on space-based applications increases. Within FAA [Federal Aviation Administration], the Office of Commercial Space Transportation (AST) is charged both with overseeing the industry, including licensing and monitoring launch vehicle operations, and promoting the industry. This statement describes FAA's efforts to update regulations governing commercial space transportation; challenges FAA faces regulating an evolving industry; and steps FAA has taken to help ensure it is positioned to meet the needs of the evolving industry."
Government Accountability Office: http://www.gao.gov/