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PHIT Act of 2023
3/12/2024, 7:58 AM
Congressional Summary of S 786
Personal Health Investment Today Act of 2023 or the PHIT Act of 2023
This bill allows a medical care tax deduction for up to $1,000 ($2,000 for a joint return or a head of household) of qualified sports and fitness expenses per year. The bill defines qualified sports and fitness expenses as amounts paid exclusively for participating in a physical activity, including (1) fitness facility memberships, (2) physical exercise or activity programs, or (3) equipment for a physical exercise or activity program.
Read the Full Bill
Current Status of Bill S 786
Bill S 786 is currently in the status of Bill Introduced since March 14, 2023. Bill S 786 was introduced during Congress 118 and was introduced to the Senate on March 14, 2023. Bill S 786's most recent activity was Read twice and referred to the Committee on Finance. (text: CR S774-775) as of March 14, 2023
Bipartisan Support of Bill S 786
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
17Democrat Cosponsors
6Republican Cosponsors
9Unaffiliated Cosponsors
2Policy Area and Potential Impact of Bill S 786
Primary Policy Focus
TaxationAlternate Title(s) of Bill S 786
PHIT Act of 2023
PHIT Act of 2023
Personal Health Investment Today Act of 2023
A bill to amend the Internal Revenue Code of 1986 to treat certain amounts paid for physical activity, fitness, and exercise as amounts paid for medical care.
Comments
Sponsors and Cosponsors of S 786
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