• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

Trump wins over lifelong Democrat autoworker with ‘big, beautiful bill’ vehicle loan tax benefit

by June 27, 2025
written by June 27, 2025

President Donald Trump recognized a third-generation autoworker from Michigan Thursday while speaking at the ‘big, beautiful event,’ noting he was a lifelong Democrat who now supports the president because of vehicle loan interest tax benefits.

The president spoke about the ‘big, beautiful bill’ from the East Room of the White House with a group of people standing behind him who represented various trades, including food delivery, farmers and automotive workers.

One of the workers standing behind Trump was James Benson, a third-generation autoworker from Belleville, Michigan, who has been with Ford Motor Company for 26 years.

Trump introduced Benson, noting that Ford has ‘a lot of plants’ in the U.S.

‘If you have plants in this country, you’re going to make a lot of money,’ the president said, adding that he loves autoworkers.

Trump also said Benson was a lifelong Democrat until 2017, when he saw the benefits of the tax laws.

Trump then spoke about his latest plan to benefit car owners by making interest on car payments fully tax-deductible.

But the deduction would only be for cars made in the U.S., Trump said, adding if it was made someplace else, ‘we don’t care.’

Trump’s ‘big, beautiful bill’ would create a new deduction of up to $10,000 for qualified passenger vehicle loan interest in a given taxable year. The deduction would phase out when a taxpayer’s modified adjusted gross income exceeds $100,000.

Applicable passenger vehicles include cars, trucks, vans, SUVs and motorcycles that have been manufactured for use on public streets, roads and freeways and for which the final assembly occurs in the U.S.

The bill defines the final assembly as the process by which the manufacturer produces a vehicle and delivers it to a dealer with all the parts necessary for operation.

As is the case with the overtime and tips deductions, the auto loan provision would be in effect for tax years 2025 through 2028.

Trump reiterated to those in attendance that the tax benefit is only for vehicles made in the U.S.

‘Remember that, James. We’re going to keep those Michigan auto factories roaring,’ the president said.

FOX Business’ Eric Revell contributed to this report.

This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
EXCLUSIVE: Trump admin takes action after massive fraud uncovered at agency Dems tried to protect from DOGE
next post
Republicans raise alarm over US vulnerability to mass drone strikes after Israel-Iran conflict

related articles

CDC official includes ‘pregnant people’ terminology and pronouns...

August 28, 2025

Trump pick for UN aviation office has long...

August 28, 2025

US agencies distance themselves from Chinese-founded PDF software

August 28, 2025

UK, France, Germany trigger UN sanctions on Iran...

August 28, 2025

What did Obama know about the Trump–Russia probe?...

August 28, 2025

Is Trump considering bold Africa play to push...

August 28, 2025

CDC Director Susan Monarez refuses to be fired...

August 28, 2025

Bill Gates met with Trump to talk ‘importance...

August 28, 2025

Trump asks SCOTUS to uphold freeze on billions...

August 27, 2025

White House demands all Gaza hostages return home...

August 27, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Trump charges ahead with agenda in week 10 as judges try to block his executive orders

    March 24, 2025
  • Japanese eateries hike prices as tourist influx reaches record levels

    July 30, 2024
  • HomeStreet Bank sells $990M in loans to BofA in strategic profit push

    December 27, 2024
  • Judge blocks Trump’s EPA from terminating $14 billion in ‘green bank’ grants after accusations of fraud

    March 19, 2025
  • Long MQ: Marqeta Inc. Q3 Earnings, 30% TPV Growth, New BNPL Product, and Strong Rebound from Key Support at $3.50 Signal Long Opportunity

    November 7, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,841)
  • Investing (634)
  • Stock (907)

Latest Posts

  • Iran warns US joining conflict would mean ‘all-out war,’ refuses demands to give up disputed nuclear program

    June 18, 2025
  • DOGE joins budget battle on side of Defense Department

    March 14, 2025
  • EURUSD and GBPUSD: GBPUSD is approaching the 1.32000

    September 16, 2024

Recent Posts

  • Former USAID official Mark Moyar says ‘corruption’ at agency ‘subverted’ Trump White House

    February 6, 2025
  • Balance of power: Five races that could decide control of the House in November

    September 1, 2024
  • Trump-backed spending bill goes down in flames as shutdown looms

    December 20, 2024

Editor’s Pick

  • White House flags top USAID boondoggles under Elon Musk’s microscope

    February 4, 2025
  • Trump Media stock drops 5% after quarterly loss and Trump’s return to X

    August 13, 2024
  • DAVID MARCUS: Camping out with Democrat dimwits

    February 6, 2025
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock