Holland Reporter

Congressman Bill Huizenga has introduced the Made in America Motors Act, designated as H.R. 3191. This legislation aims to establish a federal tax deduction on auto loan interest for cars manufactured in the United States. The initiative stems from a policy priority suggested by former President Trump during his 2024 election campaign.

The bill targets reducing vehicle financing costs, which is often the second-largest expense for households after housing. Congressman Huizenga emphasized the potential savings for taxpayers, stating that it could amount to hundreds of dollars annually, regardless of whether they opt for the standard deduction or itemize their deductions.

"The Made in America Motors Act is a win for American taxpayers, autoworkers, and Michigan," said Congressman Huizenga. He highlighted that making car loan interest tax-deductible was a significant campaign promise by President Trump and that this act fulfills that promise by encouraging purchases of American-made vehicles. This, according to him, supports well-paying automotive jobs across Michigan and the nation.

Ford Motor Company expressed support for the bill: "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."

Key features of the Made in America Motors Act include creating an above-the-line tax deduction of up to $2,500 annually for interest paid on auto loans and making this deduction available even to those who take the standard deduction. However, it applies only to vehicles with final assembly within the United States.