Think of this as "Cash for Kitties".
A measure introduced by U.S. Representative Thaddeus McCotter (R-Mich) aims to make pet care expenses tax-deductible, The Michigan Messenger reports.
Introduced on July 31, HR 3501, commonly referred to as the Humanity and Pets Partnered Through the Years or HAPPY Act, would amend the IRS code to allow an individual to deduct up to $3500 in a taxable year for qualified pet care expenses. The bill defines qualified as "amounts paid in connection with providing care (including veterinary care) for a qualified pet expense other than any expense in connection with the acquisition of the qualified pet."
The bill further defines a qualified pet as a "legally owned, domesticated, live animal" and does not include animals used for research or owned or used in conjunction with trade or business.
The bill has been referred to the House Committee on Ways and Means. It has the support of the Pet Industry Joint Advisory Council (PIJAC), a trade association representing the pet industry, which states in its Pet Alert issued on August 5
"Providing pet owners the opportunity to deduct pet care expenses is an important step towards ensuring that pet owners provide adequate veterinary and other necessary pet care. It encourages responsible pet ownership and will hopefully reduce the abandonment of pets by people struggling as a result of the economic downturn." |