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Section 70203(a) of Public Law 119-21, 139 Stat. 72, 176-179 (July 4, 2025), commonly known as the One, Big, Beautiful Bill Act (OBBBA), amended section 163(h) of the Internal Revenue Code (Code) (relating to the disallowance of any deduction for personal interest) by inserting a new paragraph (4) to enact a newly allowable deduction for qualified passenger vehicle loan interest (QPVLI). Further, section 70203(c) of the OBBBA added new section 6050AA to the Code relating to information returns applicable to interest on a specified passenger vehicle loan received in a trade or business from individuals. The final rule will provide proposed guidance on the deduction of QPVLI and information reporting requirements for taxable years beginning after December 31, 2024, and before January 1, 2029.