HR 385
111th Congress
House
Taxation
Consumer credit
Income tax deductions
Income tax exclusion
Interest, dividends, interest rates
Motor vehicles
Sales and excise taxes
State and local taxation
CAR Act of 2009
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 9, 2009
Referred to the House Committee on Ways and Means.
Jan 9, 2009
Sponsor introductory remarks on measure. (CR H94)
Jan 9, 2009
Introduced in House
Plain-English summary
Consumer Auto Relief Act of 2009 or the CAR Act of 2009 - Amends the Internal Revenue Code to allow individual taxpayers a tax deduction for: (1) up to $7,500 of the purchase price of a new passenger automobile or light truck that is purchased in 2009; (2) interest paid on any loan to purchase such vehicles; and (3) state and local sales taxes paid on a vehicle purchase. Excludes from the gross income of lenders 50% of the interest paid on any consumer loan for the purchase of a new passenger automobile or light truck.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1