0
0
0
PHIT Act of 2023
3/14/2024, 4:05 AM
Summary of Bill HR 1582
The PHIT Act of 2023, also known as Bill 118 hr 1582, is a piece of legislation currently being considered by the US Congress. The PHIT Act stands for Personal Health Investment Today Act and aims to make it easier for Americans to invest in their health and wellness by allowing them to use pre-tax dollars to pay for certain physical activities and fitness expenses.
Under the PHIT Act, individuals would be able to use funds from their pre-tax health savings accounts (HSAs) and flexible spending accounts (FSAs) to cover expenses related to physical activities such as gym memberships, fitness classes, sports equipment, and youth sports leagues. This would provide a financial incentive for individuals to prioritize their health and engage in regular physical activity.
Supporters of the PHIT Act argue that it would help reduce healthcare costs in the long run by encouraging preventative measures and promoting overall wellness. They also believe that it would make fitness more accessible and affordable for all Americans, regardless of income level. Opponents of the PHIT Act raise concerns about the potential loss of tax revenue and the impact on the federal budget. They also question whether the legislation would disproportionately benefit higher-income individuals who are more likely to have HSAs and FSAs. Overall, the PHIT Act of 2023 is a bipartisan effort to promote healthy lifestyles and make it easier for Americans to invest in their physical well-being. It remains to be seen whether the bill will garner enough support to pass through Congress and become law.
Under the PHIT Act, individuals would be able to use funds from their pre-tax health savings accounts (HSAs) and flexible spending accounts (FSAs) to cover expenses related to physical activities such as gym memberships, fitness classes, sports equipment, and youth sports leagues. This would provide a financial incentive for individuals to prioritize their health and engage in regular physical activity.
Supporters of the PHIT Act argue that it would help reduce healthcare costs in the long run by encouraging preventative measures and promoting overall wellness. They also believe that it would make fitness more accessible and affordable for all Americans, regardless of income level. Opponents of the PHIT Act raise concerns about the potential loss of tax revenue and the impact on the federal budget. They also question whether the legislation would disproportionately benefit higher-income individuals who are more likely to have HSAs and FSAs. Overall, the PHIT Act of 2023 is a bipartisan effort to promote healthy lifestyles and make it easier for Americans to invest in their physical well-being. It remains to be seen whether the bill will garner enough support to pass through Congress and become law.
Congressional Summary of HR 1582
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 HR 1582
Bill HR 1582 is currently in the status of Bill Introduced since March 14, 2023. Bill HR 1582 was introduced during Congress 118 and was introduced to the House on March 14, 2023. Bill HR 1582's most recent activity was Referred to the House Committee on Ways and Means. as of March 14, 2023
Bipartisan Support of Bill HR 1582
Total Number of Sponsors
1Democrat Sponsors
0Republican Sponsors
1Unaffiliated Sponsors
0Total Number of Cosponsors
132Democrat Cosponsors
56Republican Cosponsors
76Unaffiliated Cosponsors
0Policy Area and Potential Impact of Bill HR 1582
Primary Policy Focus
TaxationAlternate Title(s) of Bill HR 1582
PHIT Act of 2023
PHIT Act of 2023
Personal Health Investment Today Act of 2023
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 HR 1582
Latest Bills
To amend the Immigration and Nationality Act to prohibit the admission of aliens from certain countries where the United States cannot reliably verify the identities or backgrounds of individuals seeking entry, building upon the framework established by Presidential Proclamation 9645 and upheld by the Supreme Court in Trump v. Hawaii, 585 U.S. (2018), and for other purposes.
Bill HR 7964April 1, 2026
Veteran Technology Employment Success Act
Bill HR 7643April 1, 2026
State Veterans Homes Inspection Simplification Act
Bill HR 7747April 1, 2026
Providing for consideration of the bill (H.R. 4922) to limit youth offender status in the District of Columbia to individuals 18 years of age or younger, to direct the Attorney General of the District of Columbia to establish and operate a publicly accessible website containing updated statistics on juvenile crime in the District of Columbia, to amend the District of Columbia Home Rule Act to prohibit the Council of the District of Columbia from enacting changes to existing criminal liability sentences, and for other purposes; providing for consideration of the bill (H.R. 5143) to establish standards for law enforcement officers in the District of Columbia to engage in vehicular pursuits of suspects, and for other purposes; providing for consideration of the bill (H.R. 5140) to lower the age at which a minor may be tried as an adult for certain criminal offenses in the District of Columbia to 14 years of age; providing for consideration of the bill (H.R. 5125) to amend the District of Columbia Home Rule Act to terminate the District of Columbia Judicial Nomination Commission, and for other purposes; providing for consideration of the bill (H.R. 1047) to require the Federal Energy Regulatory Commission to reform the interconnection queue process for the prioritization and approval of certain projects, and for other purposes; providing for consideration of the bill (H.R. 3015) to reestablish the National Coal Council in the Department of Energy to provide advice and recommendations to the Secretary of Energy on matters related to coal and the coal industry, and for other purposes; providing for consideration of the bill (H.R. 3062) to establish a more uniform, transparent, and modern process to authorize the construction, connection, operation, and maintenance of international border-crossing facilities for the import and export of oil and natural gas and the transmission of electricity; and for other purposes.
Bill HRES 707April 1, 2026
Improving Mental Health Support for Servicemembers and Veterans Act
Bill HR 7735April 1, 2026
VALOR Act
Bill HR 7598April 1, 2026
Communications Equity and Diversity Council Act
Bill HR 7943April 1, 2026
Working Americans’ Tax Cut Act
Bill HR 7937April 1, 2026
Workforce Investments Accountability Act
Bill HR 8102April 1, 2026
Pay TSA Act of 2026
Bill HR 7941April 1, 2026
PHIT Act of 2023
Bill S 786March 12, 2024