To amend the Internal Revenue Code of 1986 to allow the deduction of certain interest on automobile loans.
Consumer Auto-Tax Relief Act - Amends the Internal Revenue Code to allow a deduction for interest on the acquisition of an automobile: (1) of which 60 percent or more of its equipment originated in the United States or Canada; (2) the price of which is under $35,000; and (3) the sale of which is its first retail sale.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Sponsor introductory remarks on measure. (CR E1369)
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