Key Points
- President Donald Trump proposed a tax break on car loan interest while on the campaign trail last year.
- House and Senate Republicans have pitched a $10,000 tax deduction on auto loan interest as part of the so-called “one big beautiful bill” being debated in Washington.
- Households would likely need to buy luxury cars that cost $130,000 or more to get the maximum benefit, one economist said.
- Models with such price tags include “exotic” brands like Rolls-Royce, Ferrari, Bentley, Aston Martin, Lamborghini, McLaren, Porsche, Land Rover, Cadillac, Maserati, Lotus or Mercedes-Benz, the economist said.
