S. 1219: USA CAR Act

S. 1219 is a federal bill in the 119th Congress. Currently, people cannot deduct the interest paid on car loans from their federal income taxes, much like personal credit card interest. Under this bill, taxpayers who take out a loan on or after January 1, 2025, to buy a car whose final assembly happens… See its sponsors, how members voted, and a plain-English breakdown on PolityLens.