S 1653 · 119th Congress

USA CAR Act

This bill would allow people to deduct car loan interest from their federal income taxes. Currently, you can't deduct interest paid on personal car loans, but you can deduct mortgage interest and some other types of interest. This bill changes that rule for cars made in the United States. If you buy an American-made…

Sponsor

Moreno, Bernie (R-Ohio)

Introduced

2025-05-07

Policy area

Taxation

Latest action

Read twice and referred to the Committee on Finance.