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

Q: What does Preamble of To amend the Internal Revenue Code of 1986 to allow a deduction for loan interest payments made with respect to certain vehicles. do?

This bill proposes to amend the Internal Revenue Code of 1986. The proposed amendment would allow a deduction for loan interest payments. The deduction applies to loan interest payments made with respect to certain vehicles.

Q: What does QUALIFIED PASSENGER VEHICLES INCLUDE RECREATIONAL VEHICLES of To amend the Internal Revenue Code of 1986 to allow a deduction for loan interest payments made with respect to certain vehicles. do?

This section amends Section 163(h)(4)(D) of the Internal Revenue Code of 1986 regarding the deduction for interest paid. The amendment strikes existing clauses (iii) through (vi) and replaces them with new criteria for qualified passenger vehicles. Qualified passenger vehicles now include vehicles with at least two wheels, such as cars, minivans, vans, sport utility vehicles, pickup trucks, or motorcycles. Vehicles must also be treated as a motor vehicle for purposes of title II of the Clean Air Act and have a gross vehicle weight rating of less than 14,000 pounds. The definition also includes trailers, campers, or vehicles designed for recreational, camping, or seasonal use and either are motor vehicles or are designed to be towed by or affixed to a motor vehicle. The amendments apply to indebtedness incurred after December 31, 2025.

Last updated: 5/7/2026 · Introduced: 5/7/2026

Author: Rudy Yakym (R-IN)

TL;DR (AI)

This bill amends the Internal Revenue Code to allow taxpayers to deduct interest paid on loans for certain vehicles.
The definition of 'qualified passenger vehicle' is broadened to include recreational vehicles, trailers, and campers, provided they meet specific criteria related to vehicle weight and Clean Air Act compliance.
The updated vehicle interest deduction rules apply to loans taken out after December 31, 2025.

119th Congressin committeeS. 4653(In Committee)Official page

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Includes provisions on preamble, qualified passenger vehicles include recreational vehicles.

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