A bill 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 A bill 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 A bill 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 or accrued. The amendments strike existing clauses (iii) through (vi) and insert new clauses. The new clauses define 'qualified passenger vehicles' to include vehicles with at least two wheels. Qualified vehicles include cars, minivans, vans, sport utility vehicles, pickup trucks, motorcycles, and trailers or vehicles designed for recreational use. The gross vehicle weight rating for qualifying vehicles must be less than 14,000 pounds. The amendments apply to indebtedness incurred after December 31, 2025.

Last updated: 6/2/2026 · Introduced: 6/2/2026

Author: Todd Young (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 vehicles' is expanded to include recreational vehicles and vehicles with a gross vehicle weight rating of less than 14,000 pounds, such as motorcycles and trailers.
The updated vehicle interest deduction rules apply to indebtedness incurred after December 31, 2025.

119th Congressin committeeHR. 8672(In Committee)Official page

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Other Sections

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

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