Lets people deduct loan interest for certain new U.S.-made recreational boat purchases.
This bill would allow people to deduct the interest paid on personal loans used to buy certain new recreational motorboats. Currently, this tax deduction is only available for loans used to purchase specific cars, trucks, and other motor vehicles. If passed, this change would benefit taxpayers who buy qualifying boats and would apply to loans taken out after December 31, 2024.
Today, you generally cannot deduct personal loan interest for buying a boat; this deduction is limited to certain motor vehicles like cars and trucks. If this bill becomes law, you would be able to deduct personal loan interest for certain new recreational motorboats that were assembled in the United States, for loans taken out after December 31, 2024.
HR 7222 · 119th Congress · January 22, 2026 · AI Summary by gemini-2.5-flash · 6/10
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2 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.