Thursday, Congressman Rudy Yakym (R-IN-02) and Congresswoman Dina Titus (D-NV-01) introduced legislation (H.R. 8672) that would eliminate taxes on RV loans. The bill would extend the Working Families Tax Cut’s no tax on auto loans provision to trailers, campers, and RVs.
"For millions of American families, an RV is how they take a summer road trip with the kids, see the country, or enjoy retirement on the open road,” Rep. Yakym said. “It's a big investment, and it should be treated like one. As the congressman representing the RV capital of America, I hear from manufacturers and dealers all the time about what this relief would mean for working families. This bill is simple: if you're paying interest on an RV loan, you should be able to deduct it."
"For many families and tourists across the country, there is no better way to experience our national parks and beautiful natural landscapes than from an RV," Rep. Titus said. "This bipartisan legislation will help make that more affordable, allowing even more people to explore Nevada and boosting our outdoor recreation in these challenging economic times."
This legislation has gained the support of several members of the RV industry including the RV Industry Association.
"We applaud Representatives Yakym and Titus for their leadership in introducing this bill to include all RVs in the No Tax on Vehicle Loan Interest provision," Craig Kirby, RV Industry Association President & CEO said. "By restoring travel trailers to the classification of 'applicable passenger vehicles,' this essential legislation ensures the tax benefits are applied fairly across the industry. Correcting this discrepancy is a vital step in keeping RVing affordable for consumers and supporting the continued success of our $140 billion American industry. We strongly urge Congress to act quickly and pass this important legislation. Watch Rep. Yakym discuss this legislation on Fox Business with Stuart Varney HERE.
Read full bill text HERE.
Background:
Indiana's Second District is home to Elkhart County, which manufactures roughly 80 percent of all recreational vehicles sold in the United States. The RV industry supports tens of thousands of Indiana jobs and drives billions in economic activity each year.
The legislation applies to RV loan interest on indebtedness incurred after December 31, 2025, and covers a broad range of vehicles including trailers, campers, and motor vehicles designed for recreational or seasonal living quarters.
More than 11 million American households own an RV, and millions more hit the road each summer for family vacations, camping trips, and travel. Restoring the interest deduction would lower the cost of ownership for families across the country.
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