Loading chat...

US HB7582

Bill

Official Source

Status

Introduced

2/13/2026

Primary Sponsor

Scott Perry

Click for details

Origin

House of Representatives

119th Congress

AI Summary

  • Amends Internal Revenue Code Section 1(h)(5)(A) to exclude automobiles from the definition of "collectibles" for capital gains tax purposes
  • Currently, collectibles are taxed at a maximum 28% capital gains rate; this change would allow collector automobiles to qualify for the lower long-term capital gains rates (0%, 15%, or 20%)
  • Applies to taxable years beginning after December 31, 2025
  • Introduced by Rep. Perry on February 13, 2026, and referred to the House Committee on Ways and Means

Legislative Description

CAR Act Collector Automobile Relief Act

Last Action

Referred to the House Committee on Ways and Means.

2/13/2026

Committee Referrals

Ways And Means2/13/2026

Full Bill Text

No bill text available