A bill to amend the Internal Revenue Code of 1954 to allow a refundable tax credit for individuals who purchase a new, domestically manufactured motor vehicle which has at least 85 percent domestic content.

Amends the Internal Revenue Code to allow an income tax credit for the purchase of a new, domestically manufactured motor vehicle. Allows such credit for the year during which the vehicle is purchased and for each of the three succeeding taxable years. Sets the amount of such credit at two and one-half percent of the cost of such vehicle. Requires the taxpayer to retain the motor vehicle in order to qualify for such credit.

Requires that such motor vehicle must be a vehicle: (1) manufactured primarily for use on public streets, roads, and highways; (2) manufactured in the United States; (3) at least 85 percent of which is attributable to domestic content; and (4) the original use of which commences with the taxpayer.