Bill would allow $3,500 yearly tax break for pet care

A bill introduced late in July before Congress adjourned for recess would allow Americans to deduct up to $3,500 on their taxes for expenses related to caring for their pets.

The Humanity and Pets Partnered Through the Years ("HAPPY") Act would allow taxpayers to deduct "an amount equal to the qualified pet care expenses of the taxpayer during the taxable year for any qualified pet of the taxpayer," with a cap at $3,500 for the maximum deduction.

The bill, introduced by Rep. Thaddeus McCotter (R-Mich.), would allow Americans to deduct expenses like veterinary care for their pets -- as long as they're "qualified pets," meaning a domesticated animal not used for commercial purposes.

It's not clear whether or not the legislation has much of a future; it was introduced on July 31st, the last day Congress was in session before recess, and referred to the House Ways and Means Committee. McCotter doesn't serve on that committee, but fellow Michigan Republican Rep. Dave Camp serves as the powerful committee's ranking member.