S. 4653

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 4653 Introduced in Senate (IS)]

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119th CONGRESS
2d Session
S. 4653

To amend the Internal Revenue Code of 1986 to allow a deduction for 
loan interest payments made with respect to certain vehicles.

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IN THE SENATE OF THE UNITED STATES

June 2, 2026

Mr. Young introduced the following bill; which was read twice and 
referred to the Committee on Finance

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A BILL

To amend the Internal Revenue Code of 1986 to allow a deduction for 
loan interest payments made with respect to certain vehicles.

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

SECTION 1. QUALIFIED PASSENGER VEHICLES INCLUDE RECREATIONAL VEHICLES 
FOR PURPOSES OF DEDUCTION FOR INTEREST PAID OR ACCRUED.

(a) In General.--Section 163(h)(4)(D) of the Internal Revenue Code 
of 1986 is amended by striking clauses (iii) through (vi) and inserting 
the following:
``(iii) which has at least 2 wheels, and
``(iv) which--
``(I)(aa) is a car, minivan, van, 
sport utility vehicle, pickup truck, or 
motorcycle,
``(bb) is treated as a motor 
vehicle for purposes of title II of the 
Clean Air Act, and
``(cc) has a gross vehicle weight 
rating of less than 14,000 pounds, or
``(II) is a trailer, camper, or 
vehicle which--
``(aa) is designed to 
provide temporary living 
quarters for recreational, 
camping, or seasonal use, and
``(bb) is a motor vehicle 
or is designed to be towed by, 
or affixed to, a motor 
vehicle.''.
(b) Effective Date.--The amendments made by this section shall 
apply to indebtedness incurred after December 31, 2025.
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