USTMA Applauds Legislative Proposal to Incentivise Tyre Retreading
The U.S. Tire Manufacturers Association (USTMA) and its member companies have voiced their support of H.R. 8165, the Commercial Vehicle Fleet Retreaded Tire Utilization Reinvestment and Recovery Act of 2022, introduced this week by Congressman Tim Ryan (OH-13). The bill would provide tax credits for fleet purchases of U.S. retreaded commercial tyres.
“Retreading of commercial tyres in the U.S. market has steadily decreased over the last 25 years, due in part to foreign alternatives for new tyres, which are 65 percent less likely to be retreaded because of their design and construction,” said Anne Forristall Luke, president and CEO of USTMA.