Automobile Fuel Economy Act

[AI summary unavailable — showing source text] Automile Fuel Economy Act - Declares it the purpose of this Act to stimulate the production of more fuel efficient automobiles and to provide incentives to American consumers to buy such products. Imposes a tax on every passenger automobile sold by the manufacturer which fails to meet specified fuel efficiency rates. Specifies the rate of such tax. Provides that such tax shall become effective on September 1, 1976. Defines the terms used in the Act. Makes technical and conforming amendents. Directs the Secretary of the Treasury to pay to each individual who, after September 1, 1976 and, on or before August 30, 1982, purchases a new fuel efficient passenger automobile, an amount, determined by the fuel efficiency rate of such automobile. Directs the Administrator of the Environmental Protection Agency to establish test procedures to determine the fuel efficiency rates of passenger automobiles sold within the United States. Requires the label affixed to automobiles to include the fuel efficiency rate and the tax imposed by this Act. Prohibits the adjusting of passenger automobiles if such adjustment would lower the fuel efficiency rate. Imposes a civil penalty of not more than $1,000…