• Provides a tax deduction for up to $10,000 in annual interest paid on loans to acquire U.S.-assembled qualifying vehicles for eligible consumers
• Applies whether an individual itemizes deductions or takes the standard deduction
• Consult your tax, legal, or accounting professional if you have questions. This information does not constitute tax, accounting, or legal advice

Income limits are $100,000 for single filers and $200,000 for married filing jointly. The benefit phases out over the next $50,000 and is fully phased out for taxpayers with modified adjusted gross income above $150,000 for single filers and $250,000 for married filing jointly.

This applies to individuals financing only. It is not applicable to commercial or fleet purchases, and there is no lease benefit.

• Only applies to interest paid in tax years 2025 through 2028
• Must be new debt contracted after December 31, 2024, and excludes refinancing of debt incurred prior to that date

Eligible vehicles must be assembled in the United States.