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Offline mystery-ak

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Trump in Talks with Johnson, Thune About Making Interest Payments on American-Made Cars Tax Deductib
« on: March 28, 2025, 06:22:24 pm »
Trump in Talks with Johnson, Thune About Making Interest Payments on American-Made Cars Tax Deductible

Nick Gilbertson 28 Mar 2025
2:14

President Donald Trump announced Friday that he has spoken with House Speaker Mike Johnson (R-LA) and Senate Majority Leader John Thune (R-SD) about making interest payments on loans for American-made cars tax deductible.

While speaking with reporters in the Oval Office, Trump revealed that he has spoken with the leaders of both chambers of Congress about his vision for tax deductions on loans for U.S.-made cars.

“If you buy a car in the United States that’s made in the United States, if it’s manufactured here… if you borrow money you have interest payments, we’re going to let you deduct the interest payment for income tax reasons,” he said.

“I think people are going to be–they’ve never had a deduction. You know, deductions are supposed to be for, like, rich people, and it’s unfair to have that, but rich people are – I think I know more about deductions than any human being on Earth,” he said, drawing laughs in the room.

Trump stressed that this policy idea is aimed at benefiting middle-income earners.

“The truth is that people that are middle-income people that buy a car and actually have to borrow money, they’re going to now get an interest deduction on their car, if it’s made in the United States. If it’s made someplace else, that won’t take place.”

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https://www.breitbart.com/economy/2025/03/28/trump-in-talks-with-johnson-thune-about-making-interest-payments-on-american-made-cars-tax-deductible/
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Online mountaineer

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Re: Trump in Talks with Johnson, Thune About Making Interest Payments on American-Made Cars Tax Dedu
« Reply #1 on: March 28, 2025, 06:52:38 pm »
 :facepalm2:
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Offline Smokin Joe

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Re: Trump in Talks with Johnson, Thune About Making Interest Payments on American-Made Cars Tax Dedu
« Reply #2 on: March 28, 2025, 06:54:16 pm »
Interest on some new Chevy pickups is at 0.9% here.  :shrug:
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Online Timber Rattler

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Re: Trump in Talks with Johnson, Thune About Making Interest Payments on American-Made Cars Tax Dedu
« Reply #3 on: March 28, 2025, 07:07:03 pm »
Has this guy ever bought and paid for his own car?

 :pootrump:
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Offline Wingnut

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Re: Trump in Talks with Johnson, Thune About Making Interest Payments on American-Made Cars Tax Dedu
« Reply #4 on: March 28, 2025, 08:46:49 pm »
Quote from: Timber Rattler on March 28, 2025, 07:07:03 pm
Has this guy ever bought and paid for his own car?

 

:PooTimberRattler:

I think he just bought a New Tesla a few days ago.
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Offline corbe

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Re: Trump in Talks with Johnson, Thune About Making Interest Payments on American-Made Cars Tax Dedu
« Reply #5 on: March 28, 2025, 10:32:40 pm »
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Offline jafo2010

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Re: Trump in Talks with Johnson, Thune About Making Interest Payments on American-Made Cars Tax Dedu
« Reply #6 on: March 28, 2025, 11:32:59 pm »
I just bought a Lexus back in July, 2024.  No help to me.  And I am not trading my Lexus so I can get a car made by a company owned by union workers, who courtesy Obama disenfranchised stock holders and bond holders to payoff the unions.
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Offline Bigun

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Re: Trump in Talks with Johnson, Thune About Making Interest Payments on American-Made Cars Tax Dedu
« Reply #7 on: March 29, 2025, 10:37:59 am »
With utmost respect Mr. President, I can tell you that passage of a single bill (HR25), currently languishing in the House Ways and Means Committee, will have manufacturers running over each other to get back to this country without the need for tariffs.
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Offline Bigun

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Re: Trump in Talks with Johnson, Thune About Making Interest Payments on American-Made Cars Tax Dedu
« Reply #8 on: March 29, 2025, 10:41:43 am »
 American made must mean "Assembled in America" because there are no cars that are fully made here now. Even G.M. and FORD use any number of foreign made components in their products.
« Last Edit: March 29, 2025, 10:43:40 am by Bigun »
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"I wish it need not have happened in my time," said Frodo.

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Offline Kamaji

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Re: Trump in Talks with Johnson, Thune About Making Interest Payments on American-Made Cars Tax Dedu
« Reply #9 on: March 29, 2025, 10:51:12 am »
What counts as made in the U.S.?  Most of my new 2025 Subaru comes from Indiana. 
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Offline Bigun

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Re: Trump in Talks with Johnson, Thune About Making Interest Payments on American-Made Cars Tax Dedu
« Reply #10 on: March 29, 2025, 11:12:28 am »
Quote from: Kamaji on March 29, 2025, 10:51:12 am
What counts as made in the U.S.?  Most of my new 2025 Subaru comes from Indiana.

My wife's 2022 Hyundai Palisade was assembled in Ulsan, South Korea or Kaliningrad, Russia. The Lambda engine was made in Montgomery, Alabama. The 8-speed transmission is made in Rizhao City, China.

My Dodge Truck was assembled in either Michigan, USA, and Saltillo, Mexico with components coming from all over the place including Tiawan and Communist China.

There isn't very much, if anything, that is truly "Made in America" these days.

« Last Edit: March 29, 2025, 11:15:25 am by Bigun »
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"I wish it need not have happened in my time," said Frodo.

"So do I," said Gandalf, "and so do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given us."
- J. R. R. Tolkien
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