The Tax Policy Center has revealed that President Donald Trump's One Big Beautiful Bill will primarily benefit the rich, with almost 60% of the tax benefits going to the top 20% of U.S. taxpayers this year.
However, there are some aspects of the bill that can be a boon for the rest of us, including an auto-loan tax break that could be worth up to $10,000 to qualifying buyers.
This tax benefit only applies to purchases of vehicles that undergo their final assembly process in the United States, and it's expected to expire after 2028.
To qualify, buyers must make $100,000 a year or less (or $200,000 for jointly filing married couples), and they must purchase a vehicle with a U.S.-made final assembly location.
Consumer Reports has identified the top US-made electric vehicles, including the Tesla Model Y, which leads in its American-made rankings.
The Model Y is not only the top choice overall in CR's electric SUV category but also the No. 1 choice globally for electric SUVs, backed by strong scores for road-test performance and customer satisfaction.
With a starting price of $39,990, plus $1,640 in destination and order fees, the Model Y offers an attractive tax break opportunity for qualifying buyers.
Assuming a 10% downpayment, average credit score, and average-length six-year auto loan, the total interest paid over the loan period would be $7,569.
However, since the tax deduction expires after 2028, buyers must act quickly to take advantage of this benefit.
The Model Y's success in the US market is a testament to its popularity among consumers, with approximately 317,000 sales in 2025, making it the top-selling EV globally.
The tax break is a significant advantage for those purchasing American-made electric vehicles.
