A bill to amend the Internal Revenue Code of 1954 to allow individuals a refundable income tax credit of $1,000 for purchasing a new American-made passenger automobile.

Amends the Internal Revenue Code to allow individual taxpayers a refundable income tax credit of $1,000 for purchasing, between February 28, 1981, and March 1, 1982, a new 1981 model American-made passenger automobile.