To amend the Internal Revenue Code of 1986 to allow a credit of $1,000 for the purchase of a domestically manufactured automobile for personal use.

Summary

Amends the Internal Revenue Code to allow a tax credit of $1,000 for the purchase of domestically manufactured automobiles acquired for the personal use of the taxpayer and not for use in a trade or business. Requires an automobile to be treated as manufactured in the United States if at least 75 percent of the cost to the manufacturer is attributable to value added in the United States or Canada. Reduces the basis of such automobile by the amount of the credit.

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Timeline

1. 20 February 1992

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 20 February 1992

   Introduced

   Introduced in House

   Source: IntroReferral

3. 20 February 1992

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

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Versions

• Introduced in House · — · Download file

Documents

2 official files

• Introduced in House (text)

  Introduced in House · EN

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 20 February 1992

  Open at official source

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Sponsors

• Rep. Frost, Martin [D-TX-24] · D · Sponsor
• Rep. Wilson, Charles [D-TX-2] · D · Cosponsor
• Rep. McNulty, Michael R. [D-NY-23] · D · Cosponsor
• Rep. Roe, Robert A. [D-NJ-8] · D · Cosponsor
• Rep. Bonior, David E. [D-MI-10] · D · Cosponsor
• Rep. Bryant, John W. [D-TX-5] · D · Cosponsor
• · hswm00 · Standing

Related records

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