President Donald Trump announced Friday that he has spoken with House Speaker Mike Johnson (R-LA) and Senate Majority Leader John Thune (R-SD) about making interest payments on loans for American-made cars tax deductible.
While speaking with reporters in the Oval Office, Trump revealed that he has spoken with the leaders of both chambers of Congress about his vision for tax deductions on loans for U.S.-made cars.
“If you buy a car in the United States that’s made in the United States, if it’s manufactured here… if you borrow money you have interest payments, we’re going to let you deduct the interest payment for income tax reasons,” he said.
“I think people are going to be–they’ve never had a deduction. You know, deductions are supposed to be for, like, rich people, and it’s unfair to have that, but rich people are – I think I know more about deductions…
