Senators Marshall & Husted Introduce Legislation to Shore Up the American Tire Industry & Lower Costs for Consumers
Washington – On Monday, U.S. Senator Roger Marshall, M.D. (R-Kansas), joined Senator Jon Husted (R-Ohio) in introducing the Resilient Tire Supply and Jobs Act, which will create a federal tax credit for those who buy and use retreaded American-made tires.
“Kansas relies on strong logistics networks and sound transportation—and for the trucking industry, quality tires are critical to keeping our goods moving,” said Senator Marshall. “I am proud to support the Resilient Tire Supply and Jobs Act, which will incentivize the adoption of American-made, domestically retreaded tires, many of which are manufactured in Kansas, cutting down on waste and reducing the reliance on low-quality imported tires.”
“Encouraging Americans to use tires retreaded in America leaves consumers with more cash and the U.S. tire industry with more jobs,” said Senator Husted. “I’m proud to lead this bill and help keep more money in Ohioans’ pockets with tires we make right here in America.”
To be eligible for this tax credit, the tires would need to be retreaded in the United States and purchased here as well. Qualifying taxpayers can claim a credit each year that is equal to the lesser of:
- 30% of the cost of eligible retreaded tires, or
- $30 per tire (for each tire placed in service that year).
Numerous organizations and tire manufacturers support this legislation, including The Goodyear Tire and Rubber Company, the American Trucking Associations, Bridgestone America, the U.S. Tire Manufacturers Association, Penske, Waste Management, and BD Transportation.
“The Resilient Tire Supply and Jobs Act provides a critical incentive to support local jobs, help commercial truck fleets operate more efficiently, and reinforces our leadership in domestic manufacturing,” said Joe Burke, vice president of North America commercial and global aviation, The Goodyear Tire & Rubber Company. “Tire retreading is essential to keeping America’s trucking fleets moving and supports thousands of U.S. jobs, delivering real cost savings and operational benefits for the commercial trucks that move our nation’s economy. We thank Senator Husted for his leadership in strengthening America’s retread industry and securing this vital domestic supply chain today and into the future.”
Full text of the bill is available here.
Background:
- Tire retreading is a manufacturing process that replaces worn tread to help extend the tire’s life. Low-quality imports undermine the retreading industry and weaken safety and quality for consumers.
- The Resilient Tire Supply and Jobs Act would provide a market remedy through the tax credit, which boosts this important industry by lowering costs, creating jobs, and accelerating capital investment.
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Contact: Payton Fuller
