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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.

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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
1
Democrat Sponsors
0
Republican Sponsors
1
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 7582

Primary Policy Focus

Taxation

Alternate 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 profile image

Stone Lamb

1,040

5 months ago

This bill is a disaster! How will it impact everyday Americans?

Mustafa Joyce profile image

Mustafa Joyce

1,050

5 months ago

I support excluding automobiles from capital gains tax. It will benefit taxpayers in the long run.

Tanner Zhu profile image

Tanner Zhu

1,045

4 months 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

Scott Perry
Scott Perry
PennsylvaniaRepublican

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