Birdwatch Note Rating
2024-10-12 21:20:30 UTC - HELPFUL
Rated by Participant: 149FA2C1AA326A426498CF2EBFA4012AB2ED5219BB741FB54901F13164D0ACAD
Participant Details
Original Note:
NNN - The other note overlooks the point of the article, that the deduction requires itemizing, which is mostly done by high-income earners (AGI $500k+). Thus, while low credit scores do lead to higher auto loan interest, the deduction would mainly benefit wealthier taxpayers. https://taxpolicycenter.org/briefing-book/what-are-itemized-deductions-and-who-claims-them
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