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Donald Trump is now pitching a new tax cut that, on the face of it, would seem to benefit almost every American who owns a car. The former president on Thursday proposed making interest on auto ...
Speaking before the Detroit Economic Club on Thursday, Trump promised to make the interest paid on car loans fully tax deductible, similar to the popular existing deduction for mortgage interest.
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 ...
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 ...
On Thursday, former President Donald Trump traveled to Michigan to announce a new tax cut proposal designed to appeal to both car buyers and the auto industry. Trump told the Detroit Economic Club ...
Along with the auto loan tax credit, Trump has promised to do away with taxes on tips and overtime hours for wage workers, eliminate a cap on a tax deduction known as "SALT" enjoyed mainly by ...
Trump has also pledged to reverse a separate provision of the 2017 law that put a $10,000 cap on state and local tax (SALT) deductions. That cap was included at the time to help offset some other ...
GREENSBORO, NC — Former President Donald Trump announced Tuesday that his plan to make interest incurred on car loans fully tax deductible will only apply to vehicles manufactured in the US ...