No Tax on Boat Loan Interest Act of 2026

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 7222 Introduced in House (IH)] <DOC> 119th CONGRESS 2d Session H. R. 7222 To amend the Internal Revenue Code of 1986 to include watercraft as applicable passenger vehicles for purpose of deducting personal loan interest. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES January 22, 2026 Ms. Mace introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to include watercraft as applicable passenger vehicles for purpose of deducting personal loan interest. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``No Tax on Boat Loan Interest Act of 2026''. SEC. 2. NO TAX ON BOAT INTEREST. (a) In General.--Section 163(h)(4)(D) of the Internal Revenue Code of 1986 is amended to read as follows: ``(D) Applicable passenger vehicle.-- ``(i) In general.--For purposes of this paragraph, the t…