President Donald J. Trump announced his latest push to support American workers and American-made cars: a sweeping tax reform that will let vehicle owners deduct interest on U.S.-made auto loans \u2014 a move that puts American industry, not foreign conglomerates, back in the driver\u2019s seat.<\/p>\n\n\n\n
Standing shoulder-to-shoulder with hardworking men and women from across the country \u2014 from farmers to food delivery drivers \u2014 Trump proudly introduced James Benson, a third-generation Ford autoworker from Belleville, Michigan, as a symbol of the shift sweeping Middle America.<\/p>\n\n\n\n
\n\u201cI used to be a Democrat,\u201d Benson said, \u201cbut after what President Trump did for our jobs and our families, I changed in 2017. I saw the difference right away \u2014 in my paycheck, in our plant, and in the way Washington finally started listening to us.\u201d<\/p>\n<\/blockquote>\n\n\n\n
President Trump, whose bold tax overhaul in 2017 unleashed a wave of economic growth<\/a> and record employment, doubled down on his Buy American, Hire American pledge. This time, his weapon of choice is a \u201cbig, beautiful\u201d bill that makes auto loan interest up to $10,000 fully tax-deductible \u2014 but only if the vehicle was assembled in the U.S.A.<\/p>\n\n\n\n
\n\u201cIf your car is made here in America \u2014 not in China, not in Mexico \u2014 then you get the deduction,\u201d Trump declared. \u201cIf it\u2019s made someplace else, we don\u2019t care.\u201d<\/p>\n<\/blockquote>\n\n\n\n
The tax break would apply to passenger vehicles \u2014 including cars, trucks, SUVs, vans, and motorcycles \u2014 built on U.S. soil and delivered fully assembled to dealerships. This ensures that the jobs created and the benefits received stay where they belong: right here in the United States.<\/p>\n\n\n\n
Details of the America First Auto Loan Deduction<\/h2>\n\n\n\n
\n
- Deduction Limit: Up to $10,000 in interest on qualified auto loans<\/li>\n\n\n\n
- Eligibility: Applies only to vehicles assembled in the U.S.<\/li>\n\n\n\n
- Income Threshold: Phases out for individuals earning above $100,000<\/li>\n\n\n\n
- Time Frame: Applies to tax years 2025 through 2028<\/li>\n<\/ul>\n\n\n\n
James Benson\u2019s story mirrors that of millions across the Rust Belt: Americans who voted Democrat for decades but saw real results only after Trump took office.<\/p>\n\n\n\n
\u201cFord has a lot of plants here,\u201d Trump noted. \u201cAnd if you build here, you\u2019re going to make a lot of money. I love the autoworkers.\u201d<\/p>\n\n\n\n
This isn\u2019t just rhetoric. Ford recently announced a $3.5 billion investment<\/a> in a battery plant in Michigan, citing stable trade conditions and pro-manufacturing policy signals.<\/p>\n\n\n\n