House Republicans look to axe US 45V clean hydrogen tax credit
House Republicans are seeking to axe the US’ clean hydrogen production tax credit, a measure once hailed as transformative for the industry, in a sweeping attempt to slash Biden-era clean energy funding.
The House Ways and Means Committee set out a proposal that would gut clean energy tax credits, and electric vehicle and renewable energy funding from the Biden Administration’s Inflation Reduction Act (IRA) to save $6.5bn. It comes under the so-called “One Big, Beautiful Bill” aimed at extending tax cuts under the previous Trump Administration.
Within the proposal is the “termination of clean hydrogen production credit,” which aims to roll back the credit’s expiration from 2033 to 2026, effectively gutting its long-term value.
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