Congress wants to give you a tax break -- for exercising

The PHIT Act would allow Americans to use pre-tax money in a health savings account or flexible spending account to pay for gym memberships, personal trainers, or workout equipment to use at home.

“With families tightening their belts, gyms, youth sports leagues, and other exercise classes have become less and less affordable and accessible,” Rep. Jimmy Panetta, D-Calif., said in a statement. “An active lifestyle is the best preventative medicine, and by encouraging these habits we can promote healthier communities.”

If the bill passes, there would be a $1,000 annual limit for individuals and $2,000 limit for married couples.

[The only slimming effort that should involve Congress is putting the federal budget on a radical diet. — Ed]