Core Points - The Treasury Secretary Scott Bessent supports President Trump's initiative allowing a deduction of up to $10,000 on auto loan interest for eligible taxpayers [1][2] - This deduction aims to benefit working and middle-class families by making car ownership more affordable [2][3] Tax Deduction Details - Eligible taxpayers who purchase U.S.-assembled vehicles between 2025 and 2028 can deduct up to $10,000 per year in auto loan interest [2][3] - The deduction applies only to vehicles assembled in the U.S. [3] - Income limits for the deductions are set at $100,000 for singles and $200,000 for couples, with a gradual reduction in the deductible amount for incomes exceeding these thresholds [5] Affordability Initiatives - The Trump administration emphasizes affordability in the auto industry, including rolling back Corporate Average Fuel Economy (CAFE) standards to enhance vehicle affordability for consumers [6] - The tax bill is presented as a means to improve consumer affordability, with specific mention of the deduction being applicable to various manufacturers, not just Tesla [4]