DJT Surges as Trump Endorses Tax Deduction on Auto Loan Interest

Oct 11, 2024

Shares of Trump Media & Technology Group (DJT, Financial) gained over 5%, trading at $25.47. The stock's upward movement followed a speech by Trump at the Detroit Economic Club, where he proposed a full tax deduction on auto loan interest. This initiative aims to bolster the US automotive sector, comparing it to the existing mortgage interest tax deduction policy.

Trump believes that allowing tax deductions on auto loan interest will stimulate domestic car production and make car ownership more affordable for millions of American working families.

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