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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      House Committee on Ways and Means
    IntroducedMarch 21st, 2010

Bill Details

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Title

Drivers Accelerated Interest Deductibility Act of 2010

Official Title

To amend the Internal Revenue Code of 1986 to allow a deduction for interest paid on indebtedness incurred in connection with the purchase of a new automobile or light truck.

Summary

Drivers Accelerated Interest Deductibility Act of 2010 or the Drivers AID Act - Amends the Internal Revenue Code to allow a deduction from gross income of up to $5,000 for interest paid for the purchase of certain new automobiles or light trucks during periods when the national unemployment rate is 7% or greater.

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