CAR Act

Hozzl · 2026-03-11T23:02:00Z

Explore the details of House Bill 7582 CAR Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

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

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

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.