SenateS. 4653119th Congress
A bill to amend the Internal Revenue Code of 1986 to allow a deduction for loan interest payments made with respect to certain vehicles.
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[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4653 Introduced in Senate (IS)]
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119th CONGRESS
2d Session
S. 4653
To amend the Internal Revenue Code of 1986 to allow a deduction for
loan interest payments made with respect to certain vehicles.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
June 2, 2026
Mr. Young introduced the following bill; which was read twice and
referred to the Committee on Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to allow a deduction for
loan interest payments made with respect to certain vehicles.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. QUALIFIED PASSENGER VEHICLES INCLUDE RECREATIONAL VEHICLES
FOR PURPOSES OF DEDUCTION FOR INTEREST PAID OR ACCRUED.
(a) In General.--Section 163(h)(4)(D) of the Internal Revenue Code
of 1986 is amended by striking clauses (iii) through (vi) and inserting
the following:
``(iii) which has at least 2 wheels, and
``(iv) which--
``(I)(aa) is a car, minivan, van,
sport utility vehicle, pickup truck, or
motorcycle,
``(bb) is treated as a motor
vehicle for purposes of title II of the
Clean Air Act, and
``(cc) has a gross vehicle weight
rating of less than 14,000 pounds, or
``(II) is a trailer, camper, or
vehicle which--
``(aa) is designed to
provide temporary living
quarters for recreational,
camping, or seasonal use, and
``(bb) is a motor vehicle
or is designed to be towed by,
or affixed to, a motor
vehicle.''.
(b) Effective Date.--The amendments made by this section shall
apply to indebtedness incurred after December 31, 2025.
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