A bill to amend the Internal Revenue Code of 1954 to provide individuals a credit against income tax for 10 percent of the State and local general sales taxes imposed on their purchase of certain new American-made highway vehicles.

Amends the Internal Revenue Code to allow individual taxpayers an income tax credit equal to ten percent of the State and local sales taxes incurred in the purchase of a new American-made automobile. Limits the amount of such credit to $150.

Terminates such credit with respect to vehicles sold after December 31, 1984.