Commercial Vehicle Fleet Retreaded Tire Utilization Reinvestment and Recovery Act of 2022

Hozzl · 2022-12-29T17:18:44Z

Explore the details of House Bill 8165 Commercial Vehicle Fleet Retreaded Tire Utilization Reinvestment and Recovery Act of 2022 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

12/29/2022, 5:18 PM

Summary of Bill HR 8165

Bill 117 HR 8165, also known as the Commercial Vehicle Fleet Retreaded Tire Utilization Reinvestment and Recovery Act of 2022, aims to promote the use of retreaded tires in commercial vehicle fleets. The bill recognizes the environmental and economic benefits of retreaded tires, which can be reused multiple times, reducing the need for new tire production and ultimately decreasing waste.

The legislation includes provisions for a grant program to assist commercial vehicle fleet operators in transitioning to retreaded tires. These grants would help cover the costs associated with purchasing and installing retreaded tires, as well as any necessary equipment or training. The bill also calls for the establishment of a national database to track the use of retreaded tires in commercial fleets, allowing for monitoring of the program's effectiveness.

Additionally, the bill includes measures to incentivize the recycling and reuse of old tires, further reducing waste and promoting sustainability in the transportation industry. By encouraging the use of retreaded tires, the legislation aims to reduce the environmental impact of tire production and disposal, while also saving commercial vehicle operators money in the long run. Overall, Bill 117 HR 8165 seeks to support the transition to retreaded tires in commercial vehicle fleets, promoting sustainability, cost savings, and environmental stewardship in the transportation industry.

Congressional Summary of HR 8165

Commercial Vehicle Fleet Retreaded Tire Utilization Reinvestment and Recovery Act of 2022

This bill allows a new tax deduction through 2026 for 50% of the cost of purchasing a qualified retreaded tire (i.e., a retreaded truck tire manufactured in the United States by a manufacturer that is not owned or under the control of a state-owned enterprise and purchased by the taxpayer in the United States).

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Current Status of Bill HR 8165

Bill HR 8165 is currently in the status of Bill Introduced since June 21, 2022. Bill HR 8165 was introduced during Congress 117 and was introduced to the House on June 21, 2022. Bill HR 8165's most recent activity was Referred to the House Committee on Ways and Means. as of June 21, 2022

Bipartisan Support of Bill HR 8165

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 8165

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 8165

Commercial Vehicle Fleet Retreaded Tire Utilization Reinvestment and Recovery Act of 2022Commercial Vehicle Fleet Retreaded Tire Utilization Reinvestment and Recovery Act of 2022To amend the Internal Revenue Code of 1986 to establish a deduction for certain retreaded tires, and for other purposes.

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Comments

Sponsors and Cosponsors of HR 8165

Tim Ryan

Ohio(Democrat)

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