Trump to propose making car loans fully tax deductible

11/10/2024 6:24

        Republican presidential
        candidate Donald Trump on Thursday will propose making all
        interest on car loans fully tax-deductible, according to
        excerpts of a speech seen by Reuters ahead of remarks in
        Detroit.
        
        The proposal is the latest in a long string of potential tax
        cuts the former U.S. president has floated during the final
        weeks of his campaign against Democratic Vice President Kamala
        Harris.
        
        Trump will also propose cutting the tax rate on U.S.
        domestic manufacturers to 15% and said he will bar all
        autonomous vehicles from Chinese companies from traveling on
        U.S. roads.
        
        If elected, he will need congressional support to pass
        changes of tax laws.