HR 7222
No Tax on Boat Loan Interest Act of 2026
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill would allow boat owners to deduct the interest paid on loans used to purchase their boats from their federal income taxes, similar to the deduction for car loans. It amends the Internal Revenue Code to classify watercraft as ‘applicable passenger vehicles,’ expanding the definition of vehicles eligible for this deduction. The changes would require the use of a vehicle identification number or hull identification number on tax returns. The bill’s provisions would take effect starting in 2025.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsor
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.