Fitness Industry Has ‘Huge Opportunity’ Under Trump, Experts Say
Health & Fitness Association leaders believe the Trump administration’s promises of healthcare reform are good for fitness and wellness brands
The fitness and wellness industry has a “huge opportunity” to become a bigger part of the American economy under new leadership in the White House, political insiders believe.
Speaking during the 2025 ATN CEO Summit, Health & Fitness Association leaders Mike Goscinski and Jeff Solsby took the stage to discuss how the fitness industry’s top trade association is preparing for the administration of President-elect Donald Trump.
Goscinski, vice president of government affairs for the HFA, believes the fitness and wellness industry can establish itself as a bigger player in Washington D.C., especially given the healthcare-reform promises of Robert F. Kennedy Jr., Trump’s pick to serve as secretary of health and human services.
“We’re super excited because we’re facing an administration (where) for the first time … we see a receptive voice to understanding the benefits of physical activity and the intervention that’s needed from the federal government to allow more people to have access to it,” Goscinski said.
Solsby, the HFA’s vice president of communications, notes that the incoming Trump administration has signaled a willingness to listen to “outside voices,” which should benefit the historically marginalized and minimized fitness and wellness industry.
“I don’t see that as a bad thing, especially given the fact that RFK is connected to this industry,” Solsby said, alluding to Kennedy Jr. having been seen working out in spots like Gold’s Gym and Equinox.
Will Tariffs Harm Fitness Brands? It’s Probably Too Early To Tell
Asked about the impact Trump’s tariff proposals may have on the fitness industry, Goscinski believes it’s too early to say anything definitive.
“This is going to be a ‘wait-until-you-see’ situation,” he said. “We’re hearing different things out of the transition (team) about what it’s going to be, where the tariffs are going to be levied, what they’re going to be used for and exactly what products will be on said list.”
The HFA and its allies are working hard behind the scenes to ensure the fitness industry is protected whatever happens regarding tariffs, Goscinski assured.
“We’re taking a look at everything,” he said. “We’re coalescing with our partner and friend groups in town to make sure that we have a seat at the table, the industry has a seat at the table, because the one thing that we want the administration to understand is that a tariff on (fitness) equipment raises the price of equipment, which raises the price of access for every American to get and stay physically active.”
Finally a Chance for the PHIT Act?
Goscinski believes there’s still hope for the PHIT Act, a bill that would allow Americans to spend tax-free dollars from their Flexible Spending Account (FSA) or Health Savings Account (HSA) on fitness-related purchases like gym memberships and equipment.
While industry leaders have been unsuccessfully pushing for the PHIT Act to get passed for around two decades now, Goscinski pointed to a rare opportunity – the upcoming “Super Bowl of Tax.”
With Trump’s Tax Cuts and Jobs Act due to expire in 2025, many federal tax provisions will be reworked this year.
“Congress does not have the choice but to act on tax bills this year,” Goscinski said, noting this presents an inroad for the PHIT Act, which is a tax bill at its heart.
“We’ve been working tooth and nail with the powers that be to make sure it’s in a good spot to be” included as part of larger tax-reform proposals, Goscinski said of the PHIT Act. “We’ve got great confirmation and great feedback that it is, and we’re more excited than ever to hopefully get it across this year.”
Whatever the future of the PHIT Act, Goscinski is bullish on the fitness and wellness industry’s potential over the next four years with new leadership in the White House.
“It is a huge, huge opportunity, and one that has positioned us to think big (about) the way we’re going,” he said. “It’s not just thinking about how we can get PHIT finally across the finish line. It’s about thinking, ‘Can we get Medicare and Medicaid to do direct payment for gym memberships?’ We’re thinking outside the box.”
Be on the lookout for more information on the ATN Innovation Summit, a can’t-miss two-day event to be held on June 17th and 18th in New York City featuring the biggest names, brands and ideas across fitness, health and wellness.