Treasury Secretary Bessent announced the details for the "No Tax on American Car Loan Interest" rule. It offers a $10k annual tax deduction on auto loan interest for vehicles purchased between 2025 and 2028. The main requirement is that final assembly must be in the US, and there are income limits starting at $100k for individuals and $200k for couples. This covers domestic brands like GM and Ford but also qualifies US-built models from foreign automakers like Toyota, Honda, and Hyundai. Recent data shows GM sales are up 5.1% and Toyota is up 8.4% year over year. The move looks targeted at supporting domestic manufacturing jobs across all eligible manufacturers.