Taxes on recreational vehicle (RV) loans would be eliminated under a bipartisan bill proposed on May 7 by U.S. Rep. Rudy Yakym (R-IN).
“For millions of American families, an RV is how they take a summer road trip with the kids, see the country, or enjoy retirement on the open road,” Rep. Yakym said. “It’s a big investment, and it should be treated like one.
“As the congressman representing the RV capital of America, I hear from manufacturers and dealers all the time about what this relief would mean for working families,” he added. “This bill is simple: if you’re paying interest on an RV loan, you should be able to deduct it.”
Rep. Yakym sponsored H.R. 8672 with bill cosponsor U.S. Rep. Dina Titus (D-NV) to extend the One Bill Beautiful Bill’s no tax on auto loans provision to trailers, campers, and RVs.
“For many families and tourists across the country, there is no better way to experience our national parks and beautiful natural landscapes than from an RV,” said Rep. Titus. “This bipartisan legislation will help make that more affordable, allowing even more people to explore Nevada and boosting our outdoor recreation in these challenging economic times.”
Indiana’s Second District is home to Elkhart County, which manufactures roughly 80 percent of all RVs sold in the United States. The RV industry supports tens of thousands of Indiana jobs and drives billions in economic activity each year, according to the congressman.
If enacted, H.R. 8672 would apply to RV loan interest on indebtedness incurred after Dec. 31, 2025, and would cover a broad range of vehicles, such as trailers, campers, and motor vehicles designed for recreational or seasonal living quarters.
H.R. 8672 is supported by the RV Industry Association and has been referred for consideration to the U.S. House Ways and Means Committee.