Physical Activity Tax Incentive Clears Major Hurdle

Source: Sports & Fitness Industry Association

SILVER SPRING, MD – July 21, 2014 – The Personal Health Investment Today Act (PHIT HR956) took a major step forward recently when Congress released its estimate of the investment Americans would make in physical activity if allowed to use money in pre-tax medical accounts, also known as a score.  The Congressional Joint Committee on Taxation reported that Americans would invest $2.5 billion over 10 years if PHIT was passed. With most physical activity coming at a price, finding ways to reduce the financial barrier to participation in active lifestyles has become imperative. PHIT would encourage active, healthy lifestyles by offsetting the expense of physical activity using pre-tax dollars.

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