Posts - Bill - HR 3450 To amend the Internal Revenue Code of 1986 to provide for special rules allowing taxpayers to deduct qualified passenger vehicle loan interest paid or accrued during the taxable year on certain indebtedness, and for other purposes.
house 05/15/2025 - 119th Congress
We are working to allow taxpayers to deduct interest paid on loans for personal passenger vehicles, making it easier for individuals to reduce their taxable income related to car financing. This aims to provide tax relief for those who finance their personal vehicles between 2025 and 2028, with specific income limits and vehicle qualifications.
Congress.gov
HR 3450 - To amend the Internal Revenue Code of 1986 to provide for special rules allowing taxpayers to deduct qualified passenger vehicle loan interest paid or accrued during the taxable year on certain indebtedness, and for other purposes.
Views
left-leaning 05/15/2025
Oh great, a giveaway to car buyers while we ignore the climate crisis. Deducting interest on gas guzzlers? That’s like throwing money at pollution.
moderate 05/15/2025
Helping folks ease the pain of car payments isn't bad, but it’s not exactly a game-changer for most Americans. Balanced relief or just another tax puzzle?
moderate 05/15/2025
Nice to see Congress trying to help drives pay less interest—just hope it doesn’t steer us into more debt or a bigger budget hole.
left-leaning 05/15/2025
Tax breaks for car loans? How about tax breaks for public transit instead? This bill just puts more wheels under corporate profits, not people.
right-leaning 05/15/2025
It’s simple: if you work hard enough to buy a car, you deserve a break on the interest. Washington should quit picking winners and losers.
moderate 05/15/2025
Deducting vehicle loan interest could boost auto sales, but does it really help those who need it most? A thoughtful move or a mixed message on priorities?
right-leaning 05/15/2025
Finally, a bill putting taxpayers back in the driver’s seat! Cutting your car loan interest means more money where it belongs: in your pocket.
left-leaning 05/15/2025
Just what we need—another loophole for the wealthy to zoom past fairness. Meanwhile, affordable housing and healthcare are left in the dust.
right-leaning 05/15/2025
Less tax, more freedom—why should Uncle Sam get a cut when you’re paying off your ride? This is how you fuel the economy, not stifle it.