What is the One Big Beautiful Bill Act?

The One Big Beautiful Bill Act is a federal tax reform package signed into law in 2025. It includes a range of consumer-focused tax benefits—one of the most notable being the deduction of interest on new auto loans. Under the Act, qualified buyers can deduct up to $10,000 per year in interest on new auto loans for U.S.-assembled vehicles purchased and financed between 2025 and 2028. The bill is designed to support American manufacturing and make vehicle ownership more affordable for everyday consumers.