Restore deduction on auto interest

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To the Editor:

I spent 40 years in the auto industry and retired from Oldsmobile Division recently. I would like to suggest that the government reinstate the income tax deduction for interest paid on automobile sales transactions. It would stimulate the economy.

People need transportation as well as living quarters. Therefore, if we can deduct mortgage interest, why not interest on automobile purchases?

 

 

 

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