Bill · S. 4653· Senate(119-S-4653)
A bill to amend the Internal Revenue Code of 1986 to allow a deduction for loan interest payments made with respect to certain vehicles.
- Introduced
- 6/2/2026
- Last activity
- 6/2/2026 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Todd Young
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill proposes a change to the Internal Revenue Code of 1986 regarding loan interest payments on certain vehicles. It allows a tax deduction for loan interest payments made for specific types of vehicles. The bill expands the definition of qualified passenger vehicles to include recreational vehicles, trailers, and campers used for temporary living quarters. This rule applies to debts incurred after December 31, 2025.
Yes· 3 of 12
Would middle-income households be better off under this?+3
Provides a tax savings opportunity for middle-class households financing recreational vehicles.
Would retired people be better off under this?+3
Retirees who frequently purchase recreational vehicles for travel benefit directly from the loan interest deduction.
Does this cut taxes for middle-income families?+3
Allows a tax deduction for loan interest payments on recreational vehicles, trailers, and campers, which can reduce tax burdens for middle-class buyers.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
- Section 1 allows people to take a deduction for loan interest payments made on recreational vehicles, trailers, or campers that provide temporary living quarters, which could save buyers money on their taxes.
Potential Negative Impacts for People
- The provided text does not contain any specific sections or provisions that outline potential negative consequences or burdens for individuals or groups.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Middle Class Households+3Good For Retirees+3Good For High Income Households+2Good For Middle Aged+2Good For Seniors+2Good For Business Owners+1Good For Rural Residents+1Good For Young Adults+1
- Economy And Finance
- Reduces Middle Class Taxes+3Improves Small Business Support+2Improves Economic Growth+1Increases Job Creation+1
- 6/2/2026
- Read twice and referred to the Committee on Finance.
- Introduced in Senate
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.