The Collector Automobile Relief Act would change how the federal government taxes profits from selling collector cars. Currently, when people sell collectible items—including automobiles—they pay a higher capital gains tax rate of 28 percent. This bill would exempt automobiles from the "collectibles" category, meaning profits from selling collector cars would be taxed at the lower long-term capital gains rate (either 15 or 20 percent, depending on income). The change would apply to tax years beginning after December 31, 2025, meaning it takes effect for the 2026 tax year and beyond. This legislation would primarily benefit collectors and hobbyists who buy and sell vintage, classic, or specialty vehicles.