For generations, boating has been one of America’s most cherished outdoor traditions. It brings families together, connects people with the outdoors, supports coastal and inland communities, and fuels a uniquely American manufacturing industry.
But today, many families who want to get out on the water are navigating higher interest rates, inflation and ongoing economic uncertainty, which can make financing decisions more difficult, especially for first-time and entry-level boat buyers. These are the families who are looking for a practical way to enjoy the boating lifestyle, make memories on the water and invest in an experience that brings people together.
That is why the bipartisan Boat Loan Interest Deduction Act of 2026 is so important. Introduced by U.S. Reps. Rudy Yakym, R-Ind., and Don Davis, D-N.C., this legislation would allow Americans to deduct up to $10,000 in interest paid on loans for qualifying boats that undergo final assembly in the United States. The deduction would phase out for taxpayers with modified adjusted gross incomes over $100,000, or $200,000 for joint filers. In practical terms, the bill is intended to help Americans who are trying to manage the cost of financing a boat.
This commonsense proposal recognizes a simple reality: If we want more Americans to experience the boating lifestyle, we must make it easier for families to take the next step into boat ownership, especially as they face broader economic pressures. For many families, the question is not whether they want to go boating. The question is whether financing fits within the family budget. A loan payment, interest rate and monthly budget can determine whether a family takes the next step into boat ownership. By allowing taxpayers to deduct qualifying boat loan interest, this legislation would help make the dream of boat ownership more achievable for more people.
That matters for first-time buyers, for entry-level boaters and for the future of our industry. Expanding the boating market is not only about selling more boats. It is about expanding opportunity. It is about helping more families spend time together outdoors. It is about supporting the dealers, marinas, service providers, suppliers and manufacturers that make boating possible. It is about strengthening communities where boating is part of the local economy and way of life.
It is also about supporting American manufacturing. Some 95% of boats sold in the United States are built here at home, and 93% of boatbuilders are small businesses. These companies support skilled jobs, invest in local communities and help make American-made boats sought after around the world. By requiring qualifying boats to undergo final assembly in the United States, the Boat Loan Interest Deduction Act helps ensure this benefit supports American workers and the domestic manufacturing base that powers boating.
This legislation also comes at an important moment. As our nation continues to celebrate its 250th anniversary, there is no better time to reaffirm the value of outdoor recreation, access to our nation’s waterways, and the traditions that bring families and communities together. Boating is part of that American story. From lakes to rivers to coasts, time on the water is how millions of Americans connect with one another and with the natural resources that define this country.
Yakym and Davis understand this. Their bipartisan leadership reflects the broad value of boating across rural, coastal and inland communities alike. Yakym and Davis both represent districts where boating supports jobs, small businesses and families’ favorite outdoor activity. Together, they are advancing legislation that supports families, strengthens U.S. manufacturing and helps more Americans enjoy our nation’s waterways.
Now our industry must help build momentum. The National Marine Manufacturers Association is urging boating community stakeholders to go to BoatingUnited.org and ask their members of Congress to co-sponsor the Boat Loan Interest Deduction Act of 2026. Every voice matters. Manufacturers, dealers, marina operators, suppliers, anglers, boaters and outdoor recreation advocates all have a role to play in showing Congress why this legislation matters.
The bill is about affordability, access and American manufacturing. Most important, it is about helping more families experience the freedom, connection and tradition of life on the water.
We thank Yakym and Davis for their bipartisan leadership and look forward to working with Congress, our members and the broader boating community to advance this important legislation.
Frank Hugelmeyer is president and CEO of the National Marine Manufacturers Association.
