19 hours ago · Here’s Who Could Benefit. Many Americans can take advantage of President Trump’s deduction on auto loan interest, but the tax break will provide only modest savings.

Car buyers may now benefit from a new tax break that allows them to deduct up to $10,000 in auto loan interest each year from their federal income taxes — reducing their taxable income.

Jul 23, 2025 · President Donald Trump rolled out the idea for a new tax break on car loans during a 2024 campaign stop at the Detroit Economic Club. The details of the deal unfolded this …

Nov 7, 2025 · Now, a new tax break could ease that burden by allowing borrowers to deduct auto loan interest from their taxes. In Trump’s new so-called " big, beautiful bill," the GOP offers a …

Jul 9, 2025 · There’s a new tax deduction for car loans in Trump’s ‘big, beautiful bill.’. Here’s who’s eligible—and what’s the catch. ‘No Tax on Tips’ wasn’t the only tax write-off signed into …

Jul 2, 2025 · New tax deduction — on auto loans, tips and overtime pay, and for older Americans — wouldn't deliver much of a financial benefit for lower earners, experts said. These policies …

Jul 18, 2025 · WASHINGTON — A Trump-backed tax holiday on auto loan interest payments could save middle-class Americans several hundred dollars apiece on new U.S.-built vehicle …