The One Big Beautiful Bill Act is a federal tax reform package signed into law in 2025. It includes a range of consumer-focused tax benefits—one of the most notable being the deduction of interest on new auto loans. Under the Act, qualified buyers can deduct up to $10,000 per year in interest on new auto loans for U.S.-assembled vehicles purchased and financed between 2025 and 2028. The bill is designed to support American manufacturing and make vehicle ownership more affordable for everyday consumers.
Please visit the IRS website or consult with your tax advisor for any additional details.
