$25,000 for gold medalists; $15,000 for silver medalists; and $10,000 for bronze medalists.
These are the cash prizes awarded by the U.S. Olympic Committee to medal winners.
And it’s earned income for athletes; therefore taxed by IRS.
Many feel that shouldn’t happen.
Olympians work hard to break world records.
Taxing victory doesn’t seem right.
Two senators, a Republican and a Democrat, co-sponsored USA Olympians and Paralympians Act.
They joined efforts and passed the bill through Senate.
And are now working to build a strong bipartisan support in the House and pass legislation to block IRS from taxing medalists.
Two politicians from different sides of the isle — working together.
We can only wish for these “miracles” to happen more often:
Instead of the usual gridlock, things actually get ACCOMPLISHED.
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