A bill to amend the Internal Revenue Code of 1954 to provide a refundable credit against income tax for up to $750 of the cost of purchasing a new highway vehicle.

Amends the Internal Revenue Code to allow a refundable income tax credit for the purchase of a model year 1979 or later highway vehicle which is manufactured in the United States and is purchased by the taxpayer after January 31, 1981 and before December 31, 1982. Limits the amount of such credit to $750 and the applicability of the credit to one highway vehicle.