I like to support the EPA, because they typically have to take some pretty unpopular positions to benefit a, I believe, far greater good. They clearly don't always get it right, but I give them the benefit of the doubt, usually.
But this one doesn't make any sense. If the car meets emissions regulations, where's the problem? Even if it's modified for racing. If it doesn't, then the EPA has an avenue to get it off the road. This seems to be a fairly heavy handed position to take - and one where I don't see a lot of common sense being used.