Hydrogen Announcement Sets the Stage for American Energy Leadership
Washington, D.C. – Following the publication of new final guidance by the U.S. Department of Treasury for the hydrogen production tax credit, National Association of Manufacturers President and CEO Jay Timmons released the following statement:
“America leads when we unleash all our energy potential, including hydrogen, American natural gas, nuclear and more. With a strong build-out of hydrogen production facilities, we will be able to add more sources of reliable energy for manufacturers, power plants and communities while cementing our energy dominance.
“The NAM has advocated consistently for flexibility in the credit using project-specific emissions data rather than national or regional averages. The Biden administration’s guidance provides manufacturers with an important step forward. But for hydrogen to truly become a game-changing energy source, we need to address restrictions that make it harder to cost-compete on a global scale. A robust and flexible hydrogen industry will also be a major boon to the production and utilization of American natural gas as well as American nuclear power.
“Under President Donald Trump’s leadership, we have an opportunity to cut taxes, slash red tape and unleash permitting reform—turning this credit into a powerful tool for American energy leadership and fuel security. It’s time to build on this momentum and ensure these incentives deliver on their full promise for America’s manufacturers, workers and economy.”
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The National Association of Manufacturers is the largest manufacturing association in the United States, representing small and large manufacturers in every industrial sector and in all 50 states. Manufacturing employs nearly 13 million men and women, contributes $2.91 trillion to the U.S. economy annually and accounts for 53% of private-sector research and development. The NAM is the powerful voice of the manufacturing community and the leading advocate for a policy agenda that helps manufacturers compete in the global economy and create jobs across the United States. For more information about the NAM or to follow us on Twitter and Facebook, please visit www.nam.org.