Trump announces plan to make interest on auto loans fully deductible

Former President Donald Trump announced Thursday that he intends to make interest paid on car loans fully deductible, yet another tax proposal released less than a month before the election aimed at winning over swing voters.

Notably, Trump announced the move during a speech in Michigan, where he spoke before the Detroit Economic Club. Michigan is the United States’s auto manufacturing hub. The rollout was similar to how he announced his plan to end taxes on tips during a visit to service industry-heavy Nevada.