Rebuild the American Automobile Industry Act

Rebuild the American Automobile Industry Act - Title I: Moratorium on the Importation, and the Domestic Sale, of Certain Motor Vehicles - Prohibits the importation into the United States of any motor vehicle that is: (1) a product of Japan; (2) treated as a product of Japan (a motor vehicle manufactured in a facility owned or controlled by Japanese citizens and located in a country other than Japan); or (3) manufactured by or for a domestic motor vehicle manufacturer in a facility that is not located within the United States or Japan and would, if permitted to be imported, be marketed by such manufacturer within the United States.

Makes it unlawful to sell in interstate commerce a motor vehicle manufactured by a U.S. manufacturer within the United States unless all motor vehicle parts used in its production are U.S.-made. Sets forth civil penalties and procedures for their review.

Title II: Amendments of Internal Revenue Code of 1986 - Amends the Internal Revenue Code to impose an excise tax on: (1) any direct or indirect transfer of the profits of any transplanted motor vehicle manufacturer to a citizen or resident of Japan (including corporations created under Japanese law); and (2) the expenditure of profits by domestic motor vehicle manufacturers for a nonqualified purpose (any purpose, including increases in wages and dividends in excess of inflation, other than research and development, retooling factories, or retraining workers).

Prohibits, with respect to the corporate income tax, any business expense deduction for payments of excessive compensation paid by domestic motor vehicle manufacturers to their employees.