45V hydrogen tax credit cutoff in 2028 as Trump budget clears Congress
House Republicans have passed President Donald Trump’s budget bill, after a 24-hour debate, paving the way for it to be signed into law on Friday (4 July).
The bill cleared the final Congressional hurdle after a marathon speech by Democrat House Minority Leader Hakeem Jeffries to delay the vote, meaning the 45V clean hydrogen tax credit is now set to expire five years earlier than originally legislated.
This version, which passed the Senate on Tuesday (1 July), will see 45V’s expiry date pulled back from 2033 to 2028 – offering two additional years of eligibility compared to the original termination proposal of 31 December 2025.
Many hydrogen proponents have praised the concession as a win, given that the bill will slash $488bn in green energy spending over 10 years as part of the Trump administration’s effort to roll back Biden-era incentives.
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