HB9537: Boat Loan Interest Deduction Act of 2026
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
To amend the Internal Revenue Code of 1986 to allow a deduction for loan interest payments made with respect to certain watercraft.
Plain-language summary
This bill would change federal tax law to let people deduct interest they pay on loans used to buy boats. Currently, most personal loan interest is not tax-deductible, but this bill creates an exception for certain watercraft (boats). The bill applies to individual taxpayers, not businesses. It was recently introduced in Congress and is in the early stages of the legislative process.
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HB9537: Boat Loan Interest Deduction Act of 2026
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Sponsors
Rudolph Yakym III
Primary SponsorCo-sponsors (6)
Donald Davis
Carlos Gimenez
Jimmy Patronis
Maria Salazar
Glenn Grothman