Press Releases

Today, Congressman Bill Huizenga (R-MI) announced the introduction of H.R. 3191, the Made in America Motors Act. This bill establishes a new federal tax deduction on auto loan interest for American-made cars. The Made in America Motors Act is based on a major policy priority proposed by President Trump in the run up to the 2024 election. Car ownership is essential for many American families, especially those living in rural or suburban areas. The Made in America Motors Act directly lowers the cost of financing a vehicle—often a household’s second-biggest expense after housing. This tax deduction can save taxpayers hundreds of dollars each year, regardless of whether they use the standard deduction or itemize.

“The Made in America Motors Act is a win for American taxpayers, autoworkers, and Michigan,” said Congressman Bill Huizenga. “Making interest on car loans tax deductible was a key campaign promise made by President Trump. The Made in America Motors Act delivers on this promise by giving individuals and families a financial incentive to buy American, which in turn supports good-paying automotive jobs in Michigan and across the nation.”

“As America’s top auto producer, we’re grateful to work with Congressman Huizenga on policies that grow the American auto industry. The Made in America Motors Act will help Americans purchase a car and gain the freedom to move, while supporting American auto workers, “ said Ford Motor Company.

Specifically, the Made in America Motors Act would:

• Create a new above-the-line tax deduction of up to $2500 annually for interest paid on auto loans
• Make the deduction available to taxpayers, including those who take the standard deduction
• Apply only to vehicles with final assembly in the United States

The full text of the Made in America Motors Act is available here.