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

Introduced: January 9, 2009 Introduced by: Rogers, Mike D. Republican · Alabama See on congress.gov

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

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Plain-English summary Congressional Research Service

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 January 9, 2009

Referred to the House Committee on Ways and Means.

Bill text 1 version