Rep. Yakym introduces bill in U.S. House to expand vehicle loan interest deductions

The new bill, authored by U.S. Rep. Rudy Yakym in the U.S. House, seeks to expand tax deductions for loan interest payments on a wider range of qualified vehicles, according to the U.S. Congress.

H.R.8672 was introduced on May 7, 2026 during the 2026 regular session of the 119th Congress. The following is our breakdown, based on the actual bill text, and may include interpretation to clarify its provisions.

In essence, this bill amends the Internal Revenue Code to allow individuals to deduct loan interest payments on certain vehicles, including recreational vehicles. The legislation redefines “qualified passenger vehicles” to include not only conventional vehicles like cars and trucks but also trailers and campers designed for temporary living quarters and associated with recreational use. The criteria for eligible vehicles specify that they must have at least two wheels and comply with environmental standards outlined in the Clean Air Act, while also maintaining a gross vehicle weight rating of less than 14,000 pounds. These changes apply to loans incurred after December 31, 2025.

The bill was introduced by Rep. Rudy Yakym (Republican-IN-2nd District) and co-sponsored by Rep. Dina Titus (Democrat-IN-1st District).

Since the beginning of the current session, Rep. Yakym has introduced another 19 bills.

Congressional bills can originate in either the U.S. House of Representatives or the U.S. Senate, except for revenue-related measures, which must begin in the House. After introduction, bills are assigned to committees for review, hearings, amendments and debate before they can advance to a vote in each chamber. If both chambers approve identical versions, the legislation is sent to the president, who may sign it into law or veto it. Congress operates in two-year terms, with each term numbered sequentially and divided into two annual sessions. The legislative process and official bill records are maintained by the U.S. Congress and published through Congress.gov.

Rudy Yakym is a Representative from Indiana, elected as a Republican to the One Hundred Seventeenth Congress by special election to fill the vacancy caused by the death of United States Representative Jackie Walorski, and he was reelected to the two succeeding Congresses. He served on the Indiana state judicial nominating commission and has a background in staff work for Walorski’s campaign.

Yakym holds an A.S. and B.S. from Indiana University South Bend, obtained in 2009 and 2011, respectively, and an M.B.A. from the University of Notre Dame in 2019.