Sep 1, 2022

New US Legislation Will Boost Tire Importers, Retreaders

Legislation that directly benefits independent tire dealers doesn’t come around often. But a new law and a recently introduced bill have the potential to boost many dealers’ bottom lines – and maybe your own. Let’s take a look at them.

The first piece of legislation, the Ocean Shipping Reform Act, was signed into law by President Joe Biden two months ago.

The act – which was championed by the bipartisan Senate Committee on Science, Commerce and Transportation – is designed to crack down on ocean shipping costs, while easing supply chain backlogs. …

The other piece of legislation isn’t a law – yet.

This past June, Rep. Tim Ryan of Ohio introduced the Commercial Vehicle Fleet Retreaded Tire Utilization Reinvestment and Recovery Act of 2022, which would provide a tax incentive for trucking fleets to buy retreads. …

Source: MTD

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