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Stock impact report

If you bought a new car last year, you could qualify for this tax break. Here's what to know. [CBS News]

H&R Block, Inc. (HRB) 
Last h&r block, inc. earnings: 3/5 04:15 pm Check Earnings Report
US:NYSE Investor Relations: en.wikipedia.org/wiki/h
Company Research Source: CBS News
The car loan tax deduction was included in the Republicans' "big, beautiful bill" act, signed into law by President Trump last summer. Mr. Trump first floated the initiative on the campaign trail in 2024 as a way to help make car ownership "dramatically more affordable" and to boost domestic auto production. The new deduction could provide relief for car owners, experts said "The auto loan interest deduction could cut taxes by hundreds or even thousands of dollars for eligible taxpayers, and recent data from the Treasury Department suggest millions of people could claim the deduction this year," Andrew Lautz, the director of tax policy at the Bipartisan Policy Center, a Washington, D.C.-based think tank, told CBS News. Car ownership costs are at a record high, with payments for new vehicles approaching $750 per month , according to LendingTree. More consumers are also falling behind on their payments, pushing up the rate of auto loan delinquencies , a recent study by credit rat Show less Read more
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