Addressing a packed house at a campaign event at New York's Madison Square Garden, the former president mentioned several ways he plans to reduce the amount of taxes Americans pay—one designed to reduce the cost of financing a vehicle while simultaneously boosting US manufacturing:

"I'll also make interest on car loans fully tax deductible—but, only for cars made in America!

"Have to be made in America!"

Currently, interest paid on vehicle financing is not tax deductible, unless it meets certain criteria for business use.

Last year, 15.5 million light-duty vehicles were sold in the US, while 10.6 million vehicles were domestically produced.

And, for the first time ever, foreign automakers built more cars in the US than American manufacturers, like GM, Ford and Chrysler.

The average new car buyer pays about $4,500 in interest over the course of a typical 69.5-month loan. Meanwhile, the average used car purchaser pays even more—over $5,800—in interest over the same period. People financing used vehicles end up paying more in total interest, even though the amount they finance is lower, because the interest rates they pay are more than twice as high.

"And, we will achieve energy independence," Trump said Sunday. A long-time proponent of domestic oil production and opponent of Democrats' Green New Deal limiting it, Trump also promised to drastically reduce Americans' energy expenditures:

"And, I will terminate the Green New Scam. And, we will cut your energy prices in half, fifty percent within one year."

In his first term as president, Trump made the US energy independent for the first time in 67 years. Subscribe for free to Breaking Christian News here

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