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Ryan McCrimmon
House Ways and Means is now marking up a bill to let taxpayers write off up to $1000 per year on gym memberships, fitness classes + other exercise efforts. JCT says it'd cost $3.5 billion over 10 years
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Ryan McCrimmon Jul 11
Replying to @RyanMcCrimmon
Sportswear brands like Nike and Fitbit have lobbied for the bill. Lots of health groups back it. Supporters hope a modest tax deduction will get more Americans off the couch and into a gym
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Ryan McCrimmon Jul 11
Replying to @RyanMcCrimmon
Also, certain activities don't count as "qualified sports and fitness expenses" under the bill: horseback riding, golf, sailing and hunting
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Emily Holubowich Jul 11
Isn’t there evidence these types of incentives don’t really work? ?
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Adrianna McIntyre Jul 11
*bangs head against desk*
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Paul Shafer Jul 11
(Because this is really stupid.)
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Paul Shafer Jul 11
Where does this go on the postcard?
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Emily Holubowich Jul 11
Also excluding GOLF? I get like 10,000 steps when I walk the course (mostly because I am terrible and can’t ever find my ball).
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Josh Barro Jul 11
Replying to @RyanMcCrimmon
skiing counts, though?
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Jonathan Fusfield Jul 11
Replying to @RyanMcCrimmon
I’d much rather they allow us to write off the cost of daycare or something tangible.
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matt wilbert Jul 11
Replying to @RyanMcCrimmon
As if there wasn't a huge discrepancy in fitness activities between rich and poor already. Do you have to itemize to get it? I would be OK with this as a tax credit, but as a deduction it has nothing to recommend it.
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Wesley Sanders Jul 11
Replying to @RyanMcCrimmon
Is it an above the line deduction? Or only for itemizers?
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Dan S #SavetheACA Jul 11
How about testing covering gym memberships in Medicare and Medicaid as an optional benefit / alternative pain management intervention instead?
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Emily Holubowich Jul 11
Because that’s not a tax break?
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Jordan Weissmann Jul 11
Replying to @RyanMcCrimmon
What's the bill's official name?
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Ryan McCrimmon Jul 11
Replying to @JHWeissmann
Personal Health Investment Today (PHIT) Act. HR 6312
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Tyler Jul 11
Replying to @RyanMcCrimmon
Why do we need yet another special tax handout?
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LMutty Jul 11
You swipe your gym ID card at each visit. The gym compiles that info and sends the data monthly to your insurance company who then reimburses your checking account if you meet the pre-determined quota. (There actually is an interface co. who does this for the gym and insurer.)
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Polemic Paine Jul 11
Replying to @RyanMcCrimmon
Should only be payable if they turn up, otherwise I imagine sham gyms offering cash back deals to arb the trade.
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Bill Jul 11
Government issue squirrel cages coming soon.
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