U.S. Senator Bob Casey (D-PA) and 12 Senate colleagues have urged Treasury Secretary Janet Yellen to update guidance on the 45V tax credit to better support Pennsylvania businesses. The Senators seek to expand the eligible sources of hydrogen energy for the tax credit, ensuring that Pennsylvania’s workers and communities can benefit from hydrogen investments. They argue that the proposed guidance should align with the intent of the Inflation Reduction Act to maximize job creation and emission reductions. Senator Casey emphasizes the importance of this opportunity for boosting economic competitiveness, creating jobs, and enhancing energy security. Pennsylvania, poised for economic growth with two hydrogen hubs, stands to benefit significantly from these updates.
Read more here: https://www.casey.senate.gov/news/releases/casey-colleagues-urge-biden-administration-to-change-proposed-hydrogen-production-tax-credit