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A bill to amend the Internal Revenue Code of 1986 to allow a deduction for loan interest payments made with respect to certain vehicles.
To amend the Internal Revenue Code of 1986 to allow a deduction for loan interest payments made with respect to certain vehicles.
Summary
This bill would amend the Internal Revenue Code to expand the types of vehicles for which taxpayers can deduct loan interest payments. Currently, the deduction applies to cars, minivans, vans, sport utility vehicles, pickup trucks, and motorcycles under specific weight limits. The bill would add recreational vehicles, trailers, and campers designed for temporary living quarters for camping or seasonal use to the eligible vehicle categories. The change would apply to loans taken out after December 31, 2025.
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)
- Sen. Young, Todd [R-IN] (R-IN)
Actions (2)
- Jun 2, 2026 Read twice and referred to the Committee on Finance. · senate
- Jun 2, 2026 Introduced in Senate
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.
Full text
IN THE SENATE OF THE UNITED STATES
June 2, 2026
Mr. Young introduced the following bill; which was read twice and referred to the Committee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to allow a deduction for loan interest payments made with respect to certain vehicles.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. QUALIFIED PASSENGER VEHICLES INCLUDE RECREATIONAL VEHICLES FOR PURPOSES OF DEDUCTION FOR INTEREST PAID OR ACCRUED.
(a) In General.—Section 163(h)(4)(D) of the Internal Revenue Code of 1986 is amended by striking clauses (iii) through (vi) and inserting the following:
“(iii) which has at least 2 wheels, and
“(iv) which—
“(I)(aa) is a car, minivan, van, sport utility vehicle, pickup truck, or motorcycle, “(bb) is treated as a motor vehicle for purposes of title II of the Clean Air Act, and
“(cc) has a gross vehicle weight rating of less than 14,000 pounds, or
“(II) is a trailer, camper, or vehicle which— “(aa) is designed to provide temporary living quarters for recreational, camping, or seasonal use, and “(bb) is a motor vehicle or is designed to be towed by, or affixed to, a motor vehicle.”.
(b) Effective Date.—The amendments made by this section shall apply to indebtedness incurred after December 31, 2025. <all>
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