Bill · H.R. 7582· House(119-HR-7582)
CAR Act
- Introduced
- 2/13/2026
- Last activity
- 2/13/2026 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Scott Perry
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill is known as the Collector Automobile Relief Act, or the CAR Act. It was introduced in the House of Representatives on February 13, 2026. The legislation amends the Internal Revenue Code of 1986. Its main purpose is to exclude automobiles from being treated as collectibles when calculating capital gains tax. The new rule applies to taxable years that begin after December 31, 2025.
Yes· 3 of 14
Does this cut the tax on profits from selling investments?+4
The bill directly reduces capital gains tax liabilities on the sale of automobiles by excluding them from collectible tax treatment.
Would high-income households be better off under this?+3
High-income individuals with expensive car collections stand to benefit from reduced capital gains tax rates.
Would people with substantial wealth be better off under this?+3
High-net-worth individuals holding valuable car assets will benefit from lower capital gains taxation.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
- Section 2 excludes automobiles from being treated as collectibles under the Internal Revenue Code for purposes of capital gains tax. This is positive because it could lower tax burdens for individuals who sell automobiles, since collectibles are often subject to different tax rules.
Potential Negative Impacts for People
- The provided text does not contain any specific sections or provisions that outline potential negative consequences or burdens for individuals or groups of people in the United States.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Billionaires+3Good For High Income Households+3Good For High Net Worth Individuals+3Good For Ultra High Net Worth Individuals+3Good For Middle Aged+2Good For Middle Class Households+2Good For Retirees+2Good For Seniors+2Good For Business Owners+1Good For Men+1Good For Young Adults+1
- Economy And Finance
- Reduces Capital Gains Tax+4Reduces Middle Class Taxes+2Improves Economic Growth+1
- 2/13/2026
- Referred to the House Committee on Ways and Means.
- Introduced in House