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In September, buyers paid an average interest rate of 7.1% on new cars and 11.2% on used cars, according to car research company Edmunds. Trump said the tax cut "will stimulate massive domestic ...
Donald Trump is proposing making interest on car loans tax-deductible. But the benefit would mostly help high earners. ... That's due to Trump's Tax Cuts & Jobs Act, which greatly expanded the ...
Former President Donald Trump promised Thursday he would make interest incurred on car loans fully tax deductible during his second term and would end double taxation for Americans living abroad ...
The former president has promised to eliminate taxes on tips, Social Security benefits and overtime pay, as well as lift the $10,000 cap on state and local tax deductions – a limit he signed ...
The 1986 Act limited interest expense deductibility to mortgage interest, as well as interest on home equity loans. Car loans: You can get a car with a bad credit score, but it could cost $10,000 more
The topic du jour was a call to make car loan interest fully tax deductible. ... Trump's plan there would cut into the program ... That 2017 law also lowered the federal corporate tax rate to 21% ...
Over the next 75 years, the U.S. faces $73 trillion in unfunded liabilities, all of which come from those two programs. Trump has also said he would pay for his tax cuts with his plan to slap a ...
Trump also repeated his plan to cut corporate tax rates to 15% for companies that make their products in America and slap tariffs on products from countries that don't offer reciprocal trade with ...