This New Tax Break on Car Loans Won’t Help Anybody

As a part of the GOP's One Big Beautiful bill, Bernie Moreno has pushed for tax breaks on auto loan interest payments. The reality: this isn't really going to help anybody.

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Articles mentioned in this episode:

Check out the bill: https://www.moreno.senate.gov/wp-content/uploads/2025/04/MCG253791.pdf

Trump's funding bill runs into Senate GOP fiscal hawks: https://abcnews.go.com/Politics/trumps-big-beautiful-bill-survive-senate/story?id=122313558

UPDATE: NIADA makes request for provision showing car loan interest tax deduction applies to used vehicles: https://niada.com/dashboard/niada-requests-provision-showing-car-loan-interest-tax-deduction-applies-to-used-vehicles/

You probably won’t notice Trump’s tax break for car loans once you factor in tariffs: https://www.marketwatch.com/story/trump-touts-a-tax-break-for-car-loans-but-tariffs-will-drown-any-real-relief-for-buyers-653c64b2

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