To amend the Internal Revenue Code of 1986 to encourage investments in new manufacturing and other productive equipment by allowing an investment tax credit for such investments.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to provide an investment tax credit for manufacturing and other productive equipment. Provides for determining the applicable percentage of such credit, which includes an efficiency improvement percentage. Increases the limitation based on the amount of tax for purposes of the general business credit.…