Hydrogen Announcement Empowers American Energy Leadership
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The U.S. Department of Treasury recently released new final guidance for the hydrogen production tax credit, marking an important step towards American energy leadership. The National Association of Manufacturers (NAM) President and CEO, Jay Timmons, emphasized the significance of leveraging various energy sources like hydrogen, natural gas, and nuclear power to strengthen the country’s energy infrastructure.
NAM has been a strong advocate for project-specific emissions data to maximize the effectiveness of the tax credit. The flexibility offered in the Biden administration’s guidance is a positive development, but there are still hurdles to overcome to make hydrogen a globally competitive energy source. Timmons highlighted the potential benefits of a robust hydrogen industry not only for energy production but also for utilizing American natural gas and nuclear power.
Under President Trump’s leadership, there is an opportunity to streamline processes, reduce regulatory burdens, and enhance investment in energy projects. This could transform the hydrogen production tax credit into a powerful tool for advancing American energy security and leadership. Timmons stressed the importance of capitalizing on this momentum to ensure that these incentives fulfill their promise of supporting manufacturers, workers, and the economy.
Manufacturing is a cornerstone of the U.S. economy, employing millions of individuals and contributing trillions of dollars annually. NAM stands as a leading voice for manufacturers across different sectors, advocating for policies that promote competitiveness and drive job creation. To learn more about NAM’s work, you can visit their website and follow them on social media platforms.
