#income-limits

#income-limits

"We will see. We need legislation for that," Treasury Secretary Scott Bessent said Sunday in an interview on Fox News when asked if Trump was going to send the tariff revenue-sharing checks soon. He said the checks would go to "working families" and that an income limit would be set. He didn't describe them as a sure thing, but said: "Those could go out."

The deduction is available to those with "qualified passenger vehicles" who fall under certain income limits. For single filers with an adjusted gross income up to $100,000, the deductions on vehicle loans are capped at $10,000 in interest each year.