Personal finance expert Dave Ramsey has clarified that a popular tax benefit he highlighted in a recent video was ultimately excluded from the final version of the legislation signed by President Donald Trump.
What Happened: In a video posted on July 16, Ramsey broke down the "Big Beautiful Bill" — a sweeping tax package signed into law on July 4, touting a wide range of deductions and reforms. Among them, he stated that Health Savings Account (HSA) funds could now be used to pay for gym memberships.
"That’s a cool one," Ramsey said in the clip, referring to the expanded HSA use. "I'm a big fan of the health savings accounts."
However, on Tuesday, Ramsey issued an update on X, saying that the provision was ultimately scrapped before the bill became law.
"Update: In this clip, we discussed a change in the Big Beautiful Bill Act that would allow people to use HSA funds to pay gym membership fees," he wrote. "However, while that provision was included in earlier versions of the bill, it was not included in the final version that was signed into law."
Why It Matters: The correction comes amid heightened public interest in the new law, which includes major changes such as making the 2017 tax cuts permanent, adding deductions for tip and overtime income, and creating $1,000 "Trump Accounts" for babies born between 2025 and 2028.
The bill also eliminates the $7,500 Federal EV credit on all new electric vehicle purchases in the U.S., leading to an expected increase in EV prices.
The bill’s passage has also been linked to a surge in Bitcoin and gold prices, with analysts attributing the shift to a macroeconomic repricing event triggered by the bill’s $7 trillion shock to U.S. fiscal stability.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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