A bill to amend the Internal Revenue Code of 1954 and the National Traffic and Motor Vehicle Safety Act of 1966 to expedite the installation of automatic safety airbags.

Amends the Internal Revenue Code to impose a $300 excise tax on the sale by the manufacturer of each 1984 or later model passenger automobile in which an automatic safety air bag has not been installed.

Allows a manufacturer a refundable $300 income tax credit for each 1984 or later model passenger automobile in which such an air bag has been installed.