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To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction for qualified motor vehicle interest, and for other purposes.
Summary
This bill creates a federal income tax deduction for interest paid on motor vehicle loans, capped at $2,500 per year. The deduction applies only to vehicles that meet specific criteria: they must have at least four wheels, weigh less than 14,000 pounds, be designed for use on public roads, and have their final assembly occur within the United States. The deduction is available whether or not the taxpayer itemizes deductions on their tax return. The deduction applies to vehicle loans taken out on or after January 1, 2025, and is effective for tax years beginning after December 31, 2025. The bill is intended to incentivize the purchase of domestically manufactured vehicles.
AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.
Sponsor (1)
- Rep. Huizenga, Bill [R-MI-4] (R-MI)
Actions (2)
- May 5, 2025 Referred to the House Committee on Ways and Means. · house
- May 5, 2025 Introduced in House
Similar bills (6)
Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.
Text versions (1)
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Full text
IN THE HOUSE OF REPRESENTATIVES
May 5, 2025
Mr. Huizenga introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction for qualified motor vehicle interest, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the “Made in America Motors Act”.
SEC. 2. DEDUCTION FOR QUALIFIED MOTOR VEHICLE INTEREST.
(a) In General.—Part VII of subchapter B of chapter 1 of the Internal Revenue Code of 1986 is amended by redesignating section 224 as section 225 and by inserting after section 223 the following new section:
“SEC. 224. DEDUCTION FOR MOTOR VEHICLE INTEREST.
“(a) Allowance of Deduction.—In the case of an individual, there shall be allowed as a deduction an amount equal to the interest paid by the taxpayer during the taxable year on any qualified motor vehicle interest.
“(b) Maximum Deduction.—The amount allowed as a deduction under subsection (a) shall not exceed $2,500.
“(c) Denial of Double Benefit.—No deduction shall be allowed under this section for any interest with respect to which a deduction is allowable under any other provision of this chapter.
“(d) Qualified Motor Vehicle Interest.—For purposes of this section, the term ‘qualified motor vehicle interest’ means any indebtedness—
“(1) incurred on or after January 1, 2025,
“(2) incurred in acquiring a qualified motor vehicle, and
“(3) secured by such motor vehicle.
“(e) Qualified Motor Vehicle.—For purposes of this section, the term ‘qualified motor vehicle’ means—
“(1) any vehicle which is manufactured primarily for use on public streets, roads, and highways (not including a vehicle operated exclusively on a rail or rails) and which has at least 4 wheels,
“(2) which has a gross vehicle weight rating of less than 14,000 pounds,
“(3) which is made by a manufacturer (within the meaning given the term in section 102 of the National Traffic and Motor Vehicle Safety Act (49 U.S.C. 30102)), and
“(4) the final assembly of which occurs within the United States.
“(f) Final Assembly.—For purposes of subsection (d), the term ‘final assembly’ means the process by which a manufacturer produces a motor vehicle at, or through the use of, a plant, factory, or other place from which the motor vehicle is delivered to a dealer with all component parts necessary for the mechanical operation of the motor vehicle included with the motor vehicle, whether or not the component parts are permanently installed in or on the motor vehicle.”.
(b) Deduction Allowed Whether or Not Individual Itemizes Other Deductions.—Section 62(a) of such Code is amended by inserting after paragraph (21) the following new paragraph:
“(22) Motor vehicle interest.—The deduction allowed by section 224.”.
(c) Clerical Amendment.—The table of sections for part VII of subchapter B of chapter 1 of such Code is amended by redesignating the item relating to section 224 as an item relating to section 225 and by inserting after the item relating to section 223 the following new item:
“Sec. 224. Deduction for motor vehicle interest.”.
(d) Effective Date.—The amendments made by this section shall apply to taxable years beginning after December 31, 2025. <all>
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