Boat Loan Interest Deduction Act of 2026
Key claim: HR9537 proposes a federal income tax deduction for boat loan interest, referred to the House Committee on Ways and Means in June 2026.
Abstract
(HR9537 · 119th Congress) Latest action (2026-06-30): Referred to the House Committee on Ways and Means.
Why this matters
The proposal expands the scope of federally deductible personal interest — a category largely curtailed since the 1986 Tax Reform Act outside of mortgage and student loan contexts — by carving out boat loans as a distinct deductible class. If enacted, boat owners financing purchases would pay less federal income tax, with the benefit skewing toward higher-income households who disproportionately own recreational vessels. The bill is at the earliest legislative stage (committee referral) with no scheduled action.