Trump’s auto interest exemption gets bill language

Auto Loan Interest Deduction Limited to US Cars

Add another potentially costly tax break to congressional Republicans’ wish list as they try to extend their 2017 tax cuts.

Sen. Bernie Moreno (R-Ohio) introduced legislation Tuesday to allow taxpayers to write off the interest on loans for cars assembled in the United States, which could help buyers just as double-digit tariffs on those vehicles’ foreign parts and competitors slam the market.

The bill from Moreno, a former car dealer, turns a key campaign promise by President Donald Trump into language that could be included in a broader tax package slogging its ...