The main purpose of this legislation, known as the "Time is Money Act," is to improve the experience of airline passengers by redefining what constitutes a significantly delayed or changed flight. The goal is to ensure that travelers receive better protections and possibly compensation when their flights are delayed or altered. The key provision of this law mandates that the Secretary of Transportation must create new regulations within 180 days of the law being enacted. Specifically, it lowers the time thresholds that define a significantly delayed or changed flight.