The US hydrogen industry has seen a positive development as the Senate Committee on Finance proposed extending the deadline for the Section 45V hydrogen production tax credit to 2028, rather than the original deadline of 2033. This initiative is part of the 'One, Big, Beautiful Bill Act', which is focused on reallocating financial support for clean technologies to provide tax cuts totaling $4.5 trillion. The tax credit enables developers to claim up to $3 per kilogram of hydrogen based on emissions thresholds, with a total cost of $9.2 billion over ten years to taxpayers. The industry, represented by the United States Hydrogen Alliance, has been advocating for this extension, stating that it is crucial for attracting significant investments that could amount to tens of billions of dollars. The industry also emphasizes that the US would risk ceding leadership in the global clean hydrogen race to China if the credit is not maintained. Additionally, the draft bill plans to terminate tax credits for buyers of clean vehicles after 30 September, potentially impacting incentives like tax credits for passenger and commercial vehicles. The Senate's voting session, which has already seen a record-breaking 45 consecutive votes, is pushing to pass the bill by 4th of July as requested by former President Trump.