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Entries in Isakson (1)

Thursday
Oct292015

Thune, Murphy, Isakson, and Donnelly Introduce Bill to Encourage Healthy Living

PHIT Act Expands Purchasing Power Using Pre-Tax Dollars on Qualified Fitness Expenses

WASHINGTON - U.S. Sens. John Thune (R-S.D.), Chris Murphy (D-Conn.), Johnny Isakson (R-Ga.), and Joe Donnelly (D-Ind.) today introduced legislation that would allow Americans to make certain qualified sports and fitness purchases, like gym memberships, fitness equipment, and youth sports league fees, with money they have saved in pre-tax health care accounts. The Personal Health Investment Today (PHIT) Act would amend the Internal Revenue Code to allow for a medical care tax deduction on qualified purchases for up to $1,000 per taxpayer or $2,000 for married couples filing jointly or heads of household.

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