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H.R. 2981

U.S. House•In House Committee

Summary

H.R. 2981, the USA CAR Act, was introduced in the House on Apr 21, 2025 by Rep. David Taylor (R). It was referred to Ways And Means, and last saw action on Apr 21, 2025: Referred to the House Committee on Ways and Means.

Record

Text

H.R. 2981 has no co-sponsors and has not gone to a roll call.

hb2981/introduced-in-house.txt
119 HR 2981 IH: United States Automobile Consumer Assistance and Relief Act
 U.S. House of Representatives
 2025-04-21
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  1st Session  H. R. 2981  IN THE HOUSE OF REPRESENTATIVES   April 21, 2025   Mr. Taylor  introduced the following bill; which was referred to the  Committee on Ways and Means    A BILL
To amend the Internal Revenue Code of 1986 to allow a deduction for qualified automobile interest.
1.
Short title
This Act may be cited as the   United States Automobile Consumer Assistance and Relief Act   or the   USA CAR Act  .
2.
Deduction for qualified automobile interest
(a)
In general
 Section 163(h)(2)  of the Internal Revenue Code of 1986 is amended by striking  and  at the end of subparagraph (E), by striking the period at the end of subparagraph (F) and inserting  , and , and by adding at the end the following new subparagraph:
(G)
any qualified automobile interest (as defined in paragraph (5)).
 .
(b)
Qualified automobile interest
Section 163(h) is amended by adding at the end the following new paragraph:
(5)
Qualified automobile interest
For purposes of this subsection—
(A)
In general
The term  qualified automobile interest  means any interest which is paid or accrued during the taxable year on indebtedness which—
(i)
is incurred on or after January 1, 2025,
(ii)
is incurred in acquiring a qualified automobile, and
(iii)
is secured by such automobile.
(B)
Qualified automobile
(i)
In general
The term  qualified automobile  means an automobile (within the mean of section 2 of the Automobile Information Disclosure Act ( 15 U.S.C. 1231 ) which is made by a manufacturer (within the meaning of section 2 of such Act) the final assembly of which occurs within the United States.
(ii)
Final assembly
The term  final assembly  means the process by which a manufacturer produced an automobile at, or through the use of, a plant, factory, or other place from which the automobile is delivered to a dealer with all component parts necessary for the mechanical operation of the automobile included with the automobile, whether or not the component parts are permanently installed in or on the automobile.
 .
(c)
Effective date
The amendments made by this section shall apply to amounts paid or accrued on indebtedness incurred on or after January 1, 2025.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-04-21
  2. Passed House
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

To amend the Internal Revenue Code of 1986 to allow a deduction for qualified automobile interest.

Sponsors

Rep. David Taylor (R) sponsors H.R. 2981 alone.

David Taylor

Rep. · R–OH-2 · Sponsor

Committees

H.R. 2981 went before 1 committee: Ways and Means.

Ways and Means
Ways and Means
Referred To · Apr 21, 2025 · 1,160 Bills

Actions

H.R. 2981 has taken 2 actions since Apr 21, 2025.

ChamberAction
Apr 21, 2025
House
Introduced in House
Apr 21, 2025
House
Referred to the House Committee on Ways and Means.Ways and Means Committee

Votes

H.R. 2981 has not gone to a roll call.

3 bills are related to H.R. 2981.

Titles

H.R. 2981 goes by 4 titles, 2 of them short titles.

  • USA CAR Act — Display Title
  • USA CAR Act — Short Title(s) as Introduced
  • United States Automobile Consumer Assistance and Relief Act — Short Title(s) as Introduced
  • To amend the Internal Revenue Code of 1986 to allow a deduction for qualified automobile interest. — Official Title as Introduced

Lobbying

3 clients hired 3 firms and 19 registered lobbyists who named H.R. 2981 in 7 quarterly filings, 2025. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Taxation/Internal Revenue Code, Automotive Industry, Clean Air and Water (quality), Energy/Nuclear, Trade (domestic/foreign), Budget/Appropriations, Communications/Broadcasting/Radio/TV, Copyright/Patent/Trademark.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
GENERAL MOTORS COMPANY—District of Columbia13—
CARVANAauto sales and ecommerceArizona12$100K
CLEVELAND-CLIFFS INCCleveland-Cliffs Inc. is a producer of differentiated iron ore and steel products.Ohio12—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
GENERAL MOTORS COMPANY13—
CLEVELAND-CLIFFS INC.12—
OGR12$100K

Lobbyists

Named on the filings that cite the bill.

LobbyistFirmsClientsFilings
ELIZABETH GRIFFIN113
ERIC FELDMAN113
GUILLERMO GODOY113
HOLLYN SCHUEMANN113
JOSEPH GUZZO113
NOEL PEREZ SANCHEZ113
OMAR VARGAS113
TOMAS DELGADO ALVAREZ113
ALISSA CLEES112
BETH LUDWIG112
CHRIS GIBLIN112
CONRAD LASS112
DEAN AGUILLEN112
GORDON TAYLOR112
JEROME MURRAY112
KARISSA WILLHITE112
KYLE SHELLY112
PATRICK BLOOM112
TUCKER SHUMACK112

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
GENERAL MOTORS COMPANYGENERAL MOTORS COMPANY2025 third_quarter$5M3rd Quarter - Report
GENERAL MOTORS COMPANYGENERAL MOTORS COMPANY2025 second_quarter$3.3M2nd Quarter - Report
GENERAL MOTORS COMPANYGENERAL MOTORS COMPANY2025 fourth_quarter$3.2M4th Quarter - Report
CLEVELAND-CLIFFS INCCLEVELAND-CLIFFS INC.2025 second_quarter$320K2nd Quarter - Amendme…
CLEVELAND-CLIFFS INCCLEVELAND-CLIFFS INC.2025 second_quarter$320K2nd Quarter - Report
CARVANAOGR2025 third_quarter$50K3rd Quarter - Report
CARVANAOGR2025 second_quarter$50K2nd Quarter - Report

Classification

The Congressional Research Service files H.R. 2981 under Taxation, one of its 31 policy areas.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 2981’s is Taxation.

hr2981/policy-areas.txt
TaxationAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLabor and EmploymentLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTransportation and Public WorksWater Resources Development

Source: congress.gov · legiscan.com