Consumers who purchase U.S. retreaded tires would receive a tax credit under a bipartisan bill cosponsored on May 28 by U.S. Rep. Darin LaHood (R-IL).
“As Illinois residents continue to face challenges related to inflation and the high cost of goods, this common-sense, bipartisan bill will incentivize the purchase of American-made tires and create jobs in communities across the country,” Rep. LaHood said.
The Retreaded Truck Tire Jobs, Supply Chain Security and Sustainability Act, H.R. 8578, which is sponsored by U.S. Rep. Emilia Sykes (D-OH), would establish a truck fleet retreaded tire tax credit and would require federal agencies to consider the use of retreaded tires, according to the congressional record bill summary.
The lawmakers say the goals of the measure are to help create good-paying jobs, bolster the nation’s domestic supply chain, and promote economic growth.
“This bill makes an important investment in our manufacturing sector in Illinois, ensuring we keep jobs at home,” said Rep. LaHood. “I look forward to working with Congresswoman Sykes and my Ways and Means Committee colleagues to strengthen economic opportunities throughout the Midwest and America.”
H.R. 8578, which is supported by Bridgestone Americas Inc., has been referred to both the U.S. House Ways and Means and the U.S. House Oversight and Accountability Committee for consideration.
“The Retreaded Truck Tire Jobs, Supply Chain Security and Sustainability Act will encourage consumers to purchase high-quality American tires while putting more money back into their pockets,” said Rep. Sykes. “This common-sense, bipartisan legislation is good for both the economy and the environment, and it will protect thousands of good-paying manufacturing jobs here at home.”