,,ii  #aaith ,,congress  #ast ,session  
,s4 #afec  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,may #g1       
#bjbe,mr4 ,moreno introduced the        
following bill2 which was read twice and
 referred to the ,committee on ,finance 
,a ,,bill  ,to amend the ,internal      
,revenue ,code of #aihf to allow a      
deduction for qualified automobile      
interest4  #a4 ,short title ,this ,act  
may be cited as the ,united ,states     
,automobile ,consumer ,assistance and   
,relief ,act or the ,,usa ,,car ,act4   
#b4 ,deduction for qualified automobile 
interest  7a7 ,in general ,section      
#afc7;h77#b7 of the ,internal ,revenue  
,code of #aihf is amended by striking   
and at the end of subparagraph 7,e71 by 
striking the period at the end of       
subparagraph 7,f7 and inserting 1 and1  
and by adding at the end the following  
new subparagraph3  7,g7 any qualified   
automobile interest 7as defined in      
paragraph 7#e774  4  7b7 ,qualified     
automobile interest ,section #afc7;h7 is

 amended by adding at the end the       
following new paragraph3  7#e7          
,qualified automobile interest ,for     
purposes of this subsection-- 7,a7 ,in  
general ,the term qualified automobile  
interest means any interest which is    
paid or accrued during the taxable year 
on indebtedness which-- 7i7 is incurred 
on or after ,january #a1 #bjbe1  7ii7 is
 incurred in acquiring a qualified      
automobile1 and  7iii7 is secured by    
such automobile4  7,b7 ,qualified       
automobile  7i7 ,in general ,the term   
qualified automobile means an automobile
 7within the mean of section #b of the  
,automobile ,information ,disclosure    
,act 7#ae ,u4,s4,c4 #abca77 which is    
made by a manufacturer 7within the      
meaning of section #b of such ,act7 the 
final assembly of which occurs within   
the ,united ,states4  7ii7 ,final       
assembly ,the term final assembly means 
the process by which a manufacturer     
produced an automobile at1 or through   
the use of1 a plant1 factory1 or other  

place from which the automobile is      
delivered to a dealer with all component
 parts necessary for the mechanical     
operation of the automobile included    
with the automobile1 whether or not the 
component parts are permanently         
installed in or on the automobile4  4   
7c7 ,deduction allowed above-the-,line  
,section #fb7;a7 of the ,internal       
,revenue ,code of #aihf is amended by   
inserting after paragraph 7#ba7 the     
following new paragraph3  7#bb7 ,in the 
case of a taxpayer other than a         
corporation1 so much of the deduction   
allowed under section #afc which is     
attributable to qualified automobile    
interest 7as defined in section         
#afc7;h77#e774  4  7d7 ,effective date  
,the amendments made by this section    
shall apply to amounts paid or accrued  
on indebtedness incurred on or after the
 date of the enactment of this ,act4