S 1653
USA Car act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 8:48 AM
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- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The USA CAR Act proposes a change to the tax code that would allow individuals to deduct interest paid on loans used to purchase qualifying automobiles. These automobiles must be manufactured in the United States and assembled within the country. The deduction would apply to interest incurred starting January 1, 2025, and would be available as an ‘above-the-line’ deduction, meaning it can be claimed regardless of whether the taxpayer itemizes.
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