HR 2981
USA Car act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 13, 2026, 4:11 PM
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the USA CAR Act, proposes to allow taxpayers to deduct interest paid on car loans starting January 1, 2025. It defines a ‘qualified automobile’ as a new car assembled in the United States by a U.S. manufacturer. The deduction applies to interest on loans taken out to purchase these qualifying vehicles. This aims to provide financial relief to consumers purchasing new cars made in America.
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