Major Auto Loan Tax Break Now Active: Save Thousands on New US-Made Vehicles
Major Auto Loan Tax Break Now Active: Save Thousands on New US-Made Vehicles A significant federal tax deduction for interest paid on new vehicle loans is now active, offering potential savings of thousands of dollars for eligible buyers starting with loans issued in 2025. This new tax break, signed into law as part of a broader tax-cut bill, aims to make car ownership more affordable and stimulate domestic auto production. Qualifying taxpayers can deduct up to $10,000 annually in interest…