The main purpose of this legislation, known as the Collector Automobile Relief Act or CAR Act, is to change how automobiles are classified for tax purposes. Specifically, it aims to exclude automobiles from being considered collectibles when calculating capital gains tax. This change is intended to provide tax relief to individuals who buy and sell cars, particularly those who may have been impacted by high taxes on collectible items. The key provision of the CAR Act is the amendment to the Internal Revenue Code, which states that automobiles will no longer be treated as collectibles.