To amend the Internal Revenue Code of 1986 to encourage investments in new manufacturing and other productive equipment by allowing an investment tax credit to taxpayers who increase the amount of such investments.

Amends the Internal Revenue Code to allow an investment tax credit for manufacturing and other productive equiment for the period after December 31, 1986, and before January 1, 1992. Provides for determining such credit.

Allows such credit in determining the regular tax and the alternative minimum tax.