Senator Shelley Moore Capito has raised significant concerns regarding the proposed IRS guidance on the 45V hydrogen tax credit. In a letter, she emphasizes that the guidance imposes burdensome and unnecessary requirements that were not established in the statute, including strict deliverability, temporal matching, and incrementality criteria. She argues these conditions could hinder investments in the hydrogen industry, potentially affecting future energy projects. Senator Capito wrote to Secretary Yellen: “By contrast, your agency’s guidance that substitutes wishful thinking for a balanced approach that will grow multiple types of hydrogen production will choke off nascent technologies and ensure that a hydrogen based economy does not happen.” Her proactive approach highlights the need for the Treasury Department to reconsider its stance to ensure the hydrogen sector's growth and viability.
Read more here: https://www.epw.senate.gov/public/index.cfm/press-releases-republican?ID=A17E8C08-BDB0-4525-A756-33C5DF5B5B88