A bill to amend the provisions of law enacted by part A of title III of the Energy Policy and Conservation Act to provide an alternative means for manufacturers to meet the fuel economy standards established under such provisions, to encourage an increase of the domestic value added content in labor and materials of foreign automobiles sold in the United States, and for other purposes.

Amends the automobile fuel economy provisions of the Motor Vehicle Information and Cost Savings Act to direct the Administrator of the Environmental Protection Agency to include certain foreign-manufactured automobiles in a manufacturer's calculation of average fuel economy when: (1) at least 50 percent of the cost to the manufacturer of such automobiles is attributable to value added in the United States or Canada; (2) such automobiles have never previously been domestically manufactured; (3) the manufacturer submits an acceptable plan relating to a timetable for the domestic production of such automobiles; (4) such automobiles are manufactured before the close of the third model year commencing after the model year in which the Secretary approved such plan; (5) such manufacturer has not previously submitted another plan approved by the Secretary; and (6) any automobile in Canada is imported into the United States within 30 days after the end of the applicable model year.