To amend the Internal Revenue Code of 1986 to allow a deduction for loan interest payments made with respect to certain vehicles.

Deductible interest for RV and vehicle loans

You would be able to deduct interest on loans you take to buy qualifying vehicles. Qualifying vehicles would need at least two wheels and fit one of two groups. Group 1 would include cars, minivans, vans, SUVs, pickup trucks, or motorcycles that are treated as motor vehicles under Title II of the Clean Air Act and have a gross vehicle weight rating under 14,000 pounds. Group 2 would include trailers, campers, or vehicles made to provide temporary living quarters for recreational, camping, or seasonal use that are motor vehicles or are towed by or affixed to a motor vehicle. The rule would apply only to loans incurred after December 31, 2025, and deductions would still follow existing tax-law limits.