To amend the Internal Revenue Code of 1986 to allow a deduction for interest paid on indebtedness incurred in connection with the purchase of a new automobile or light truck.
Drivers Accelerated Interest Deductibility Act of 2010 or the Drivers AID Act - Amends the Internal Revenue Code to allow a deduction from gross income of up to $5,000 for interest paid for the purchase of certain new automobiles or light trucks during periods when the national unemployment rate is 7% or greater.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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