President Trump spotlighted James Benson—a lifelong Democrat and third-generation autoworker from Belleville, Michigan—during a White House event promoting his “One Big Beautiful Bill.” Benson, who has worked at Ford for 26 years, says his political shift to support Trump came after learning about a proposed federal deduction for auto loan interest specifically tied to U.S.-assembled vehicles.
Under the plan, buyers of domestically produced cars, trucks, vans, SUVs, and motorcycles would be able to deduct up to $10,000 in interest payments annually on loans taken from 2025 to 2028, provided their income remains below $100,000. Trump emphasized this benefit encourages the purchase of American-made vehicles and supports domestic manufacturing, citing the example of Michigan’s numerous auto plants.
Supporters of the policy argue it offers meaningful relief to working families struggling with high car costs, especially amid rising prices and loan rates exceeding 8 percent. Critics, however, question whether the deduction delivers real savings and warn that the measure may disproportionately favour buyers of higher-end vehicles while adding substantial long-term costs to the federal budget.
The proposal is currently advancing through the Senate, with debates centering on its fairness, economic impact, and compatibility with other budget priorities.