A broad coalition of nearly 250 companies, labor unions, and industrial associations is pressing U.S. Senate Republicans to preserve and extend a key clean energy tax incentive—the 45V hydrogen production tax credit—as lawmakers finalize President Donald Trump’s signature tax and spending legislation.

At issue is the future of the Section 45V hydrogen production tax credit, originally created under President Biden’s 2022 Inflation Reduction Act (IRA) to support the nascent clean hydrogen economy. The House version of Trump’s bill proposes eliminating eligibility for the credit after December 31, 2025. In response, industry groups are lobbying the Senate to extend the deadline to the end of 2029, aligning with what they view as realistic project development timelines.

President Donald Trump’s proposed tax and spending legislation, dubbed the “One Big Beautiful Bill,” could significantly slow the United States’ clean energy transition. If enacted in its current form, the bill would cut overall wind, solar, and energy storage capacity additions by 10% through 2035 compared to a no-policy-change baseline. The effects would be particularly acute for wind energy and could raise U.S. electricity prices while adding millions of tons of carbon emissions over time.

The bill’s most severe impact would be on wind energy, with new capacity projected to fall by 35%, and no new offshore wind installations expected after 2028. This collapse is driven by a swift sunset of clean electricity tax credits, many of which were introduced or extended under the Biden-era Inflation Reduction Act (IRA).

Germany’s government will launch a comprehensive review of its energy transition strategy as it seeks to curb some of Europe’s highest electricity prices, improve supply security, and integrate more flexible gas-fired power into its energy mix, Economy Minister Katherina Reiche said on Wednesday.

The announcement reflects growing pressure on Berlin to tackle rising energy costs that have eroded industrial competitiveness and emerged as a top issue in the country’s February federal election.