A proposed resolution sponsored by U.S. Rep. Thaddeus McCotter, R-Mich., will grant every household in the land a $3,500 tax deduction for “qualified pet care expenses.” This legislation, titled the Humanity and Pets Partnered Through the Years Act (aka HAPPY Act), is aimed at acknowledging the crucial importance of pets in American family life in a palpable way — via your year-end bottom line.
Pending its passage, up to $3,500 of our pet food and veterinary expenses would effectively be 10% to 30% cheaper than what we currently pay (the discount rate depends on your tax bracket, of course). Considering that most responsible pet owners stand to spend about $1,700 on each pet per year, such a proposal would help each individual or family support a couple of pets a year in the manner to which they’ve become accustomed.
SOURCE: http://www.usatoday.com/life/lifestyle/pets/2009-10-01-dolittler-happy-act_N.htm
See the actual blog for the Bill: