Lets people deduct interest on loans for cars, RVs, and other vehicles
This bill would let people deduct the interest they pay on loans for many types of vehicles, including cars, trucks, motorcycles, and recreational vehicles like campers. This could help reduce their taxable income. The changes would apply to loans taken out after December 31, 2025.
Currently, people generally cannot deduct the interest paid on loans for vehicles like cars, trucks, or recreational vehicles from their taxes. If this bill becomes law, people would be able to deduct loan interest for a wide range of vehicles, including cars, SUVs, motorcycles, campers, and trailers, for loans taken out after December 31, 2025.
HR 8672 · 119th Congress · May 7, 2026 · AI Summary by gemini-2.5-flash · 10/10
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