Story perspectives

Trump's Tax Law: $10K Deduction for U.S.-Made Vehicles

7/14/2025

28 4

Summary

Story summary

President Trump's tax law introduces a $10,000 deduction for interest on loans for U.S.-assembled vehicles, effective from 2025.
This deduction applies solely to personal-use vehicles and phases out for individuals earning over $150,000 or joint filers over $250,000.
Approximately 3.5 million loans could qualify, potentially saving buyers about $2,200 over four years.
The law seeks to enhance domestic manufacturing and encourage consumers to choose American-made vehicles.

1 of 1

Story summary

President Trump's tax law introduces a $10,000 deduction for interest on loans for U.S.-assembled vehicles, effective from 2025.
This deduction applies solely to personal-use vehicles and phases out for individuals earning over $150,000 or joint filers over $250,000.
Approximately 3.5 million loans could qualify, potentially saving buyers about $2,200 over four years.
The law seeks to enhance domestic manufacturing and encourage consumers to choose American-made vehicles.