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CAR Act
3/11/2026, 11:02 PM
Summary of Bill HR 7582
This bill, designated as H.R. 7582 in the 119th Congress and introduced on February 13, 2026, aims to amend the Internal Revenue Code of 1986. Specifically, the bill seeks to exclude automobiles from being categorized as collectibles for capital gains tax purposes.
Read the Full Bill
Current Status of Bill HR 7582
Bill HR 7582 is currently in the status of Bill Introduced since February 13, 2026. Bill HR 7582 was introduced during Congress 119 and was introduced to the House on February 13, 2026. Bill HR 7582's most recent activity was Referred to the House Committee on Ways and Means. as of February 13, 2026
Bipartisan Support of Bill HR 7582
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
0Democrat Cosponsors
0Republican Cosponsors
0Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 7582
Primary Policy Focus
TaxationAlternate Title(s) of Bill HR 7582
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.
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.
Comments
Stone Lamb
759
1 month ago
This bill is a disaster! How will it impact everyday Americans?
Mustafa Joyce
727
1 month ago
I support excluding automobiles from capital gains tax. It will benefit taxpayers in the long run.
Tanner Zhu
762
1 month ago
I dunno much about this CAR Act thing, but it seems like it could be a problem for me.
Sponsors and Cosponsors of HR 7582
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