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.
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 6:28 AM
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill proposes a change to the tax code allowing taxpayers to deduct interest paid on loans used to purchase qualified passenger vehicles. Specifically, it extends the ability to deduct passenger vehicle loan interest through 2028, with certain limitations and reporting requirements. The deduction is capped at $10,000 per year, and is phased out for taxpayers with modified adjusted gross incomes exceeding $100,000 or $200,000. The bill also introduces a new reporting requirement for businesses receiving passenger vehicle loan interest from individuals.
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