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HR 7273 110th Congress House Taxation Automobiles Commerce Consumer credit Excise tax Finance and Financial Sector Government Operations and Politics Income tax Interest Local taxation Sales tax State taxation Tax deductions Transportation and Public Works

To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction against individual income tax for interest on indebtedness and for State and local sales and excise taxes with respect…

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To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction against individual income tax for interest on indebtedness and for State and local sales and excise taxes with respect to the purchase of certain motor vehicles.

Introduced: November 19, 2008 See on congress.gov
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Nov 19, 2008
Referred to the House Committee on Ways and Means.
Nov 19, 2008
Introduced in House
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to allow individual taxpayers a deduction from gross income for: (1) interest paid on indebtedness (up to $49,500) incurred after November 12, 2008, and before January 1, 2010, for the purchase of a motor vehicle (i.e., passenger automobile or light truck) with a gross vehicle weight rating of not more than 8,500 pounds; and (2) state and local sales and excise taxes imposed on the purchase of such a motor vehicle.

What's happening now November 19, 2008

Referred to the House Committee on Ways and Means.

 Related & companion bills 1
  • S 3684 Identical bill A bill to amend the Internal Revenue Code of 1986 to allow an above-the-line deduction against individual income tax fo…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Larson, John B.
Connecticut · Dec 10, 2008
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 7273: To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction against individual income tax for interest on indebtedness and for State and local sales and excise taxes with respect to the purchase of certain motor vehicles.. 110th Congress. Open America. https://openamerica.io/bill/110-HR-7273/
MLA
"H.R. 7273: To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction against individual income tax for interest on indebtedness and for State and local sales and excise taxes with respect to the purchase of certain motor vehicles.." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-HR-7273/.
Bluebook (legal)
H.R. 7273, 110th Cong. (2026), https://openamerica.io/bill/110-HR-7273/.
Markdown link
[H.R. 7273: To amend the Internal Revenue Code of 1986 to allow an above-the-line deduction against individual income tax for interest on indebtedness and for State and local sales and excise taxes with respect to the purchase of certain motor vehicles.](https://openamerica.io/bill/110-HR-7273/)
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