Scientists have proven that having a pet can lower your blood pressure. Now pet owners may have reason to be even happier… Michigan Representative Thaddeus McCotter introduced the HAPPY (Humanity and Pets Partnered Through the Years) bill last year. It amends the Internal Revenue Code to allow a tax deduction up to $3,500 per year for pet-related expenses including visits to the veterinarian.
Beyond giving me financial relief associated with deducting the expenses for keeping my beloved cat Willo healthy, the bill is meant to stimulate our economy. As a daily money manager, that’s a bill I’d love to see. To check out how this proposed legislation is progressing through Congress, check out http://www.opencongress.org/bill/111-h3501/show.