Should Olympians pay taxes on their medals?

Published March 10, 2016 6:00pm ET



With the Summer Olympics in Rio de Janeiro five months away, a bipartisan group of senators introduced a bill Tuesday that would exempt Americans athletes from being taxed on medals or cash prizes won at the Olympics.

“We should extend a warm welcome and congratulations — not a tax bill — to our Olympic and Paralympic champions when they return to the United States,” Sen. John Thune, R-S.D., said in a press release. “The least we can do in return for these athletes’ commitment and patriotism is to allow them to keep what they’ve earned during the Olympic Games.”

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