[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3191 Introduced in House (IH)]
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119th CONGRESS
1st Session
H. R. 3191
To amend the Internal Revenue Code of 1986 to allow an above-the-line
deduction for qualified motor vehicle interest, and for other purposes.
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IN THE HOUSE OF REPRESENTATIVES
May 5, 2025
Mr. Huizenga introduced the following bill; which was referred to the
Committee on Ways and Means
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A BILL
To amend the Internal Revenue Code of 1986 to allow an above-the-line
deduction for qualified motor vehicle interest, and for other purposes.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Made in America Motors Act''.
SEC. 2. DEDUCTION FOR QUALIFIED MOTOR VEHICLE INTEREST.
(a) In General.--Part VII of subchapter B of chapter 1 of the
Internal Revenue Code of 1986 is amended by redesignating section 224
as section 225 and by inserting after section 223 the following new
section:
``SEC. 224. DEDUCTION FOR MOTOR VEHICLE INTEREST.
``(a) Allowance of Deduction.--In the case of an individual, there
shall be allowed as a deduction an amount equal to the interest paid by
the taxpayer during the taxable year on any qualified motor vehicle
interest.
``(b) Maximum Deduction.--The amount allowed as a deduction under
subsection (a) shall not exceed $2,500.
``(c) Denial of Double Benefit.--No deduction shall be allowed
under this section for any interest with respect to which a deduction
is allowable under any other provision of this chapter.
``(d) Qualified Motor Vehicle Interest.--For purposes of this
section, the term `qualified motor vehicle interest' means any
indebtedness--
``(1) incurred on or after January 1, 2025,
``(2) incurred in acquiring a qualified motor vehicle, and
``(3) secured by such motor vehicle.
``(e) Qualified Motor Vehicle.--For purposes of this section, the
term `qualified motor vehicle' means--
``(1) any vehicle which is manufactured primarily for use
on public streets, roads, and highways (not including a vehicle
operated exclusively on a rail or rails) and which has at least
4 wheels,
``(2) which has a gross vehicle weight rating of less than
14,000 pounds,
``(3) which is made by a manufacturer (within the meaning
given the term in section 102 of the National Traffic and Motor
Vehicle Safety Act (49 U.S.C. 30102)), and
``(4) the final assembly of which occurs within the United
States.
``(f) Final Assembly.--For purposes of subsection (d), the term
`final assembly' means the process by which a manufacturer produces a
motor vehicle at, or through the use of, a plant, factory, or other
place from which the motor vehicle is delivered to a dealer with all
component parts necessary for the mechanical operation of the motor
vehicle included with the motor vehicle, whether or not the component
parts are permanently installed in or on the motor vehicle.''.
(b) Deduction Allowed Whether or Not Individual Itemizes Other
Deductions.--Section 62(a) of such Code is amended by inserting after
paragraph (21) the following new paragraph:
``(22) Motor vehicle interest.--The deduction allowed by
section 224.''.
(c) Clerical Amendment.--The table of sections for part VII of
subchapter B of chapter 1 of such Code is amended by redesignating the
item relating to section 224 as an item relating to section 225 and by
inserting after the item relating to section 223 the following new
item:
``Sec. 224. Deduction for motor vehicle interest.''.
(d) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2025.
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