A bill to amend the Internal Revenue Code of 1986 to restore the deduction for personal interest used to purchase a domestically produced automobile or light-duty truck.

Amends the Internal Revenue Code to allow a noncorporate taxpayer an income tax deduction for interest paid or incurred in connection with a loan used to purchase a new domestically manufactured automobile or light-duty truck. Specifies that the indebtedness must be secured by the vehicle being purchased.