# Plain Language Summary: Retreaded Truck Tire Jobs, Supply Chain Security and Sustainability Act of 2024

This bill creates a tax credit to encourage truck fleet owners to buy retreaded tires instead of brand new ones. A retreaded tire is an old tire that's been refurbished and given a new tread—think of it like a tire getting a second life. The bill offers companies a tax credit equal to either 30 percent of what they pay for a retreaded tire or $30 per tire, whichever is less. So if a company buys a retreaded tire for $100, they could get a $30 credit on their taxes. The credit only applies to retreaded tires that are made and sold in the United States, and they must be used on heavy-duty trucks (vehicles weighing more than 14,000 pounds). This tax break runs through the end of 2027, after which it expires.

The bill also requires the federal government to practice what it preaches. Any federal agency buying tires for its fleet must choose retreaded tires whenever they're available in the size and type needed, rather than buying brand new tires. Federal agencies have one year to update their purchasing rules to follow this requirement. The goal is to support the retreading industry, create jobs in tire manufacturing and recycling, reduce waste by extending tire life, and strengthen the domestic supply chain for truck tires.

For most regular drivers, this won't directly affect you since it only applies to commercial truck fleets and federal vehicles. However, if you work in the trucking industry or for a company with a large fleet, your employer might save money on tire costs through this tax credit, which could indirectly benefit workers. The bill also supports American tire retreading businesses and workers in that industry, while promoting environmental sustainability by keeping used tires out of landfills.

Retreaded Truck Tire Jobs, Supply Chain Security and Sustainability Act of 2024

Sykes, Emilia Strong

Retreaded Truck Tire Jobs, Supply Chain Security and Sustainability Act of 2024This bill allows a new tax credit through 2027 for truck fleet retreaded tires. The amount of the credit shall be equal to the lesser of 30% of the basis of each qualified retreaded tire, or the amount incurred by a taxpayer to purchase such tires not exceeding $30 per tire.&nbsp;A qualified retreaded tire is a retreaded truck tire that is retreaded and purchased in the United States.&nbsp;&nbsp;