Trump to Propose Tax-Deductible Car Loan Interest and 15% Corporate Tax Rate in Detroit

Oct 10, 2024, 05:00 PM

Former President Donald Trump is set to propose making interest on car loans fully tax-deductible in an upcoming speech at the Detroit Economic Club, according to excerpts reported by Reuters and CNBC. This proposal aims to boost the auto sector by providing financial relief to car buyers. Additionally, Trump will propose a 'Made in America' corporate tax rate of 15% for U.S. manufacturers, which is intended to encourage domestic production and support American businesses.