Working Families Tax Cuts Put Taxpayers in the Driver’s Seat

Washington, D.C.—In addition to preventing the largest tax hike in American history and lowering tax rates across the board, the Working Families Tax Cuts championed by U.S. Senate Finance Committee Chairman Mike Crapo (R-Idaho) are making everyday expenses more affordable. Fulfilling one of President Trump’s campaign promises, the law allows working-class taxpayers to deduct interest on loans for new, U.S.-made cars, trucks and motorcycles from their taxes. With this deduction, Republicans are making it easier for Idahoans to get to work, take their children to school or enjoy a drive down one of Idaho’s scenic byways.
“This policy is a win-win for Americans: it further boosts domestic manufacturing and helps families meet their expenses,”said Crapo.“Combined with permanently lower tax rates and provisions like no tax on tips and overtime, the new deduction for car loan interest helps make low- and middle-income Americans the biggest winners under this bill.”
How itworks:
ClickHEREto learn more about how the Working Families Tax Cuts get Americans on the road.
ClickHEREto learn more about the Finance Committee provisions in the Working Families Tax Cuts.
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