I
119th CONGRESS
2d Session
H. R. 7582
IN THE HOUSE OF REPRESENTATIVES
February 13, 2026
Mr. Perry introduced the following bill; which was referred to the Committee on Ways and Means
A BILL
To amend the Internal Revenue Code of 1986 to exclude automobiles from being treated as collectibles for purposes of capital gains tax, and for other purposes.
Section 1. Short title
This Act may be cited as the Collector Automobile Relief Act
or the CAR Act
.
Sec. 2. Automobiles not treated as collectibles for purposes of capital gains tax
(a) In general
Section 1(h)(5)(A) of the Internal Revenue Code of 1986 is amended by inserting and excluding automobiles
after collectible (as defined in section 408(m) without regard to paragraph (3) thereof
.
(b) Effective date
The amendment made by this section shall apply to taxable years beginning after December 31, 2025.