“This will stimulate massive domestic auto production, and make car ownership dramatically more affordable for millions of working American families,” the former president is expected to say at the Economic Club in Detroit, according to prepared remarks. Trump will also pledge to stop Chinese-made autonomous vehicles from operating on American roads — a policy poised to benefit billionaire backer Elon Musk, the head of [Tesla](https://fortune.com/company/tesla/) Inc., who is competing with the same technology.
Only for US made?
Don’t fool yourself. This is another wealth transfer from the poor to the rich.
This would just be another excuse for people who can’t afford payments to get in too deep. It would also subsidize more affluent buyers who purchase more expensive vehicles.
He’s trying to cut so many taxes…is his proposed deficit 12 trillion in 10 years.
this is a man who’s ego far outstrips his intelligence, he is living proof that you can exist and speak with 3 brain cells. don’t make much sense though…
Is he just throwing stuff at the wall and seeing what sticks now? I’m still waiting to hear how he is going to pay for IVF
Car loan interest is far below the standard deduction so who would benefit? I know the answer.
Are there really that many people close enough to the linethat this would push them over into itemizing instead of just taking the standard deduction?
Gimmick after gimmick after gimmick
He almost broke the country one time and is the person with record on failed business and bankruptcy… we will break the country for good this time
Can anyone tell me why when the standard deduction doubled I can no longer write off my mortgage interest?
No wonder Elon Musk has been buddying up with him. It was a business transaction/bribe all along.
My car loan is @0%. Also, this can’t happen through executive order so best case scenario, you can write this off your 2026 tax return. Try harder.
A better idea would be to offer federal car loans at a low %
Tax write-offs for private jets, yachts to follow. Many Americans stopped playing the itemization game with Paul Ryan’s tax simplification. Trump wants to overly complicate things yet again. 6% loans will become 9% loans to offset any consumer benefit anyways.
This guy doubled the standard deduction and then has the nerve to propose no tips on xyz and tax write offs. Don’t even get me started on SALT.
It’s a strategy that would increase car sales and boost the domestic manufacturing of cars. Good for our car manufacturers.
If this idea were implemented correctly (which it won’t be), it could actually be a progressive wealth transfer to the less wealthy. Cap the benefit to like $25k of principal, and don’t require people to itemize their taxes in order to be eligible. And then we’d still need to raise taxes on something else in order to fill the new hole in the budget.
🙄.
One side of the coin is spend to increase deficit and the other to cut taxes to increase deficit.
All interest used to be deductible.
Imagine being so cognitive dissonant you say no to paying less taxes. Big win for anyone looking to finance themselves a vehicle, and a possible boost to auto manufacture industry
23 comments
“This will stimulate massive domestic auto production, and make car ownership dramatically more affordable for millions of working American families,” the former president is expected to say at the Economic Club in Detroit, according to prepared remarks.
Trump will also pledge to stop Chinese-made autonomous vehicles from operating on American roads — a policy poised to benefit billionaire backer Elon Musk, the head of [Tesla](https://fortune.com/company/tesla/) Inc., who is competing with the same technology.
Only for US made?
Don’t fool yourself. This is another wealth transfer from the poor to the rich.
This would just be another excuse for people who can’t afford payments to get in too deep. It would also subsidize more affluent buyers who purchase more expensive vehicles.
He’s trying to cut so many taxes…is his proposed deficit 12 trillion in 10 years.
this is a man who’s ego far outstrips his intelligence, he is living proof that you can exist and speak with 3 brain cells. don’t make much sense though…
Is he just throwing stuff at the wall and seeing what sticks now? I’m still waiting to hear how he is going to pay for IVF
Car loan interest is far below the standard deduction so who would benefit? I know the answer.
Are there really that many people close enough to the linethat this would push them over into itemizing instead of just taking the standard deduction?
Gimmick after gimmick after gimmick
He almost broke the country one time and is the person with record on failed business and bankruptcy… we will break the country for good this time
Can anyone tell me why when the standard deduction doubled I can no longer write off my mortgage interest?
No wonder Elon Musk has been buddying up with him. It was a business transaction/bribe all along.
My car loan is @0%. Also, this can’t happen through executive order so best case scenario, you can write this off your 2026 tax return. Try harder.
A better idea would be to offer federal car loans at a low %
Tax write-offs for private jets, yachts to follow. Many Americans stopped playing the itemization game with Paul Ryan’s tax simplification. Trump wants to overly complicate things yet again. 6% loans will become 9% loans to offset any consumer benefit anyways.
This guy doubled the standard deduction and then has the nerve to propose no tips on xyz and tax write offs. Don’t even get me started on SALT.
It’s a strategy that would increase car sales and boost the domestic manufacturing of cars. Good for our car manufacturers.
If this idea were implemented correctly (which it won’t be), it could actually be a progressive wealth transfer to the less wealthy. Cap the benefit to like $25k of principal, and don’t require people to itemize their taxes in order to be eligible. And then we’d still need to raise taxes on something else in order to fill the new hole in the budget.
🙄.
One side of the coin is spend to increase deficit and the other to cut taxes to increase deficit.
All interest used to be deductible.
Imagine being so cognitive dissonant you say no to paying less taxes. Big win for anyone looking to finance themselves a vehicle, and a possible boost to auto manufacture industry