Senate GOP tax bill gives break on car loan interest — but not all vehicles qualify

Senate GOP tax bill gives break on car loan interest — but not all vehicles qualify

Senate Republicans proposed a tax deduction for car loan interest. But it might exclude used-car buyers, tax experts said.

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Senate GOP 'big beautiful' bill gives tax break on car loan interest

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Senate GOP Tax Bill Offers Car Loan Interest Deduction, Excludes Used Vehicles

Senate Republicans on Monday unveiled a sweeping multitrillion-dollar tax proposal that includes a provision to allow taxpayers to deduct auto loan interest from their taxable income — but only for new vehicles. The measure, introduced by the Senate Finance Committee, is part of a broader domestic policy package GOP lawmakers...