Proposed Legislation Would Provide Tax Deduction for Retreads

Proposed Legislation Would Give Tax Deduction for Buying Retreads

Congressman Tim Ryan (OH-13) recently introduced the Commercial Vehicle Fleet Retreaded Tire Utilization Reinvestment and Recovery Act of 2022, legislation that would provide a tax deduction to consumers who purchase retreaded tires.

According to Bandag, the number of tires retreaded annually has fallen from 20 million to 15 million due to an influx of cheap imported tires from countries like China that cannot be retreaded due to their inferior construction. The goal of this legislation would be to increase the demand for retreaded tires and reduce the importation of cheap tires that cannot be retreaded, known as “disposable tires.”

Ryan’s office says the Commercial Vehicle Fleet Retreaded Tire Utilization Reinvestment and Recovery Act of 2022 is supported by a range of auto industry leaders and manufacturers, including Bridgestone, Goodyear, the USTMA, Penske Truck Leasing, BD Transportation and Freight Service Inc./Truck One Inc.

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