- Stage
- In committee
- Started in
- Senate
- Sponsor
- 1
- Latest action
- Apr 1, 2025
What it does
The USA CAR Act would amend the Internal Revenue Code to allow taxpayers a deduction for interest paid on loans used to purchase certain automobiles assembled in the United States. The deduction applies to interest on debt incurred on or after January 1, 2025, for acquiring a "qualified automobile"—defined as a vehicle whose final assembly occurs in the U.S.—and that is secured by the automobile itself. This change would affect individuals financing domestically assembled vehicles by providing a new tax benefit for qualified automobile interest.
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
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Where it goes next
While a bill can still move, the questions are about people and money.