Car Loan Interest Tax Break Rules Clear White House Review

Rules on the car loan interest tax deduction from the GOP’s tax-and-spending law are one step closer to being released.

The White House Office of Information and Regulatory Affairs on Friday completed its review of proposed rules (RIN: 1545-BR75) on the car loan interest tax break.

The GOP’s multitrillion-dollar tax-and-spending law made it so certain taxpayers can deduct up to $10,000 in car loan interest on their tax return for vehicles purchased between 2025 and 2028. The law also established reporting requirements for businesses that receive individual interest of $600 or more on certain loans.

• The proposed rules on the ...