In a Bid To Win Over Auto Manufacturers, Trump Promises To Make Interest Payments on Car Loans Tax-Deductible

Trump is hoping to put affordability at the heart of his campaign with a coterie of tax breaks for voters in critical swing states.

AP/Julia Demaree Nikhinson)
President Trump answers questions at a meeting of the Detroit Economic Club, October 10, 2024, at Detroit. AP/Julia Demaree Nikhinson)

President Trump, in a bid to win over consumers suffering from high interest rates and auto manufacturers suffering from lower sales, is promising to make interest payments on car loans tax-deductible. Tax policy has become a major issue of the campaign as the 2017 tax cuts, which Trump himself signed, are due to expire next year. 

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