Made in America Motors Act

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3191 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 3191

 To amend the Internal Revenue Code of 1986 to allow an above-the-line 
deduction for qualified motor vehicle interest, and for other purposes.


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                    IN THE HOUSE OF REPRESENTATIVES

                              May 5, 2025

 Mr. Huizenga introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to allow an above-the-line 
deduction for qualified motor vehicle interest, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Made in America Motors Act''.

SEC. 2. DEDUCTION FOR QUALIFIED MOTOR VEHICLE INTEREST.

    (a) In General.--Part VII of subchapter B of chapter 1 of the 
Internal Revenue Code of 1986 is amended by redesignating section 224 
as section 225 and by inserting after section 223 the following new 
section:

``SEC. 224. DEDUCTION FOR MOTOR VEHICLE INTEREST.

    ``(a) Allowance of Deduction.--In the case of an individual, there 
shall be allowed as a deduction an amount equal to the interest paid by 
the taxpayer during the taxable year on any qualified motor vehicle 
interest.
    ``(b) Maximum Deduction.--The amount allowed as a deduction under 
subsection (a) shall not exceed $2,500.
    ``(c) Denial of Double Benefit.--No deduction shall be allowed 
under this section for any interest with respect to which a deduction 
is allowable under any other provision of this chapter.
    ``(d) Qualified Motor Vehicle Interest.--For purposes of this 
section, the term `qualified motor vehicle interest' means any 
indebtedness--
            ``(1) incurred on or after January 1, 2025,
            ``(2) incurred in acquiring a qualified motor vehicle, and
            ``(3) secured by such motor vehicle.
    ``(e) Qualified Motor Vehicle.--For purposes of this section, the 
term `qualified motor vehicle' means--
            ``(1) any vehicle which is manufactured primarily for use 
        on public streets, roads, and highways (not including a vehicle 
        operated exclusively on a rail or rails) and which has at least 
        4 wheels,
            ``(2) which has a gross vehicle weight rating of less than 
        14,000 pounds,
            ``(3) which is made by a manufacturer (within the meaning 
        given the term in section 102 of the National Traffic and Motor 
        Vehicle Safety Act (49 U.S.C. 30102)), and
            ``(4) the final assembly of which occurs within the United 
        States.
    ``(f) Final Assembly.--For purposes of subsection (d), the term 
`final assembly' means the process by which a manufacturer produces a 
motor vehicle at, or through the use of, a plant, factory, or other 
place from which the motor vehicle is delivered to a dealer with all 
component parts necessary for the mechanical operation of the motor 
vehicle included with the motor vehicle, whether or not the component 
parts are permanently installed in or on the motor vehicle.''.
    (b) Deduction Allowed Whether or Not Individual Itemizes Other 
Deductions.--Section 62(a) of such Code is amended by inserting after 
paragraph (21) the following new paragraph:
            ``(22) Motor vehicle interest.--The deduction allowed by 
        section 224.''.
    (c) Clerical Amendment.--The table of sections for part VII of 
subchapter B of chapter 1 of such Code is amended by redesignating the 
item relating to section 224 as an item relating to section 225 and by 
inserting after the item relating to section 223 the following new 
item:

``Sec. 224. Deduction for motor vehicle interest.''.
    (d) Effective Date.--The amendments made by this section shall 
apply to taxable years beginning after December 31, 2025.
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