Former president and current Republican nominee for president Donald Trump threw out a proposal for auto loans to be tax-deductible for cars built in America.
Putting aside the specific merits of this proposal *, I am curious if car loans in general should be tax deductible?
As Michael points out, only those who itemize will benefit, and that's a small amount of taxpayers. Not to mention that those who are wealthier tend to benefit more from deductions.
As an aside, does this proposal go based on where the car is built or where the company is based? Since, you know, American automakers build cars overseas and foreign-based automakers build cars in the U.S.? It's unclear from the Reuters piece.
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