The new BBB tax cuts bring targeted relief, but for many taxpayers, actual savings may be limited or even unnoticeable in 2025.

President Donald Trump’s signature tax and spending legislation is providing short-term clarity for Wall Street but fueling concerns about the long-term health of the US economy, investors say.

After excluding fleet and commercial vehicles and customers above the income cutoff, an estimated 3.5 million new vehicle loans could be eligible for the tax break this year, if purchasing patterns stay the same, said Jonathan Smoke, chief economist at Cox Automotive.

Let's assume an interest rate of 9.5% on a six-year car loan. On a $42,000 car loan in this example, the borrower would pay $768 a month. The first year of interest would add up to a bit more than ...

For top-bracket taxpayers, the Proposed Deduction reduces the effective tax rate on qualifying BDC interest income from 40.8% to 32.29%, an 8.51% reduction.

Let's assume an interest rate of 9.5% on a six-year car loan. On a $42,000 car loan in this example, the borrower would pay $768 a month. The first year of interest would add up to a bit more than ...