HR 7582
CAR Act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 4:12 AM
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Collector Automobile Relief Act (CAR Act) aims to change how the IRS treats automobiles when calculating capital gains taxes. Currently, cars are considered collectibles, which can result in higher tax rates on their sale. This bill removes automobiles from this classification, meaning that profits from selling a car will be taxed at the standard capital gains rates rather than the higher rates applied to collectibles. The changes will take effect starting in 2026.
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