Wednesday
Mar012017

Kind and Smith Introduce PHIT in Congress

News from Congressman Ron Kind

REPRESENTING WISCONSIN’S THIRD CONGRESSIONAL DISTRICT

1502 Longworth House Office Building • Washington, DC 20515 • (202) 225-5506

____________________________________________________________

FOR IMMEDIATE RELEASE                                                       3-1-17

Contact: Amanda Sherman

Phone: 202-225-5506

Amanda.Sherman@mail.house.gov

Rep. Kind and Smith Introduce Bipartisan Bill to Lower Out-of-Pocket Cost of Fitness Expenses for Families

Washington, DC – Today, U.S. Rep. Ron Kind (WI-3) and U.S. Rep. Jason Smith (MO-8) introduced the Personal Health Investment Today (PHIT) Act. This bipartisan legislation makes it more affordable for people to take care of their health by allowing them to use pre-tax benefits to help cover the cost of an expanded number of preventative fitness expenditures.

“Promoting good health, especially to kids, is important because it is hard to develop a healthy mind without a healthy body. By making it more affordable for Wisconsin families and kids to participate in regular physical activities, we give them an increased incentive to adopt an active lifestyle and motivation to take care of their health,” said Rep. Ron Kind. 

“When we encourage people to invest in their personal wellbeing, the overall costs of healthcare will decline. In Washington, too often folks treat symptoms with Band-Aids instead of addressing the underlying source of problems. Under the Personal Health Investment Today (PHIT) Act, we want to encourage people to invest in their own fitness and well-being. I know from personal experience that when people get physically active they become healthier and their personal medical bills can shrink along with their waste lines,” said Rep. Jason Smith.

The PHIT Act changes current federal tax law to allow for the use of pre-tax dollars to cover expenses related to organized individual and team sports, fitness and exercise, recreation and other physical activities.

Americans could invest up to $1,000 annually to pay for these activities by placing money in existing pre-tax Flexible Spending Accounts, Health Savings Accounts, Medical Savings Accounts, and/or medical reimbursement arrangements. PHIT would not increase the contribution limits for pre-tax accounts; it would only expand the list of eligible expenses.