Eliminate Tax On Olympic Medals

Sochi_gold_olympic_medal_by_Sergei_Kazantsev

Target: Paul Ryan, Speaker of the U.S. House of Representatives

Goal: Repeal taxation on medal-winning Olympic athletes.

A tax on Olympic medals could be repealed thanks to a ball that has made its way to the House of Representative after being passed by the Senate. If enacted, the bill would finally put an end to the excessive penalty imposed on the athletes who so proudly represented America.

Sponsored by Sen. Charles Schumer, the bill would stop the government from imposing taxes on both Olympians and Paralympic athletes. Currently, athletes who win a gold medal earn cash prizes of $25,000, while silver medalists receive $15,000 and bronze medalists earn $10,000. The prize money is taxed because the government considers it as earned income abroad.

For the most part, Olympic athletes are amateurs who have trained their entire lives for the chance to represent their country. Sports like bobsledding, gymnastics, and fencing offer few opportunities to earn income, and to reward athletes while simultaneously taxing their efforts is contradictory and insulting to their accomplishments.

As Sen. Schumer noted, “athletes should be worried about breaking world records, not breaking the bank.” Sign the petition below and demand the passage of this bill.

PETITION LETTER:

Dear Mr. Ryan,

I am writing to bring your attention to a new bill that would repeal the tax on medal-winning Olympic athletes. As a reward for representing their country, these individuals return home only to find that their cash prize is being taxed by the government.

For the most part, these athletes are amateurs who see little income as a result of their accomplishments. They compete for love of the sport and country, and to tax them for their success is contradictory and insults their efforts. Please do everything in your power to ensure that this bill passes so that this tax can be ended.

Sincerely,

[Your Name Here]

Photo credit: Sergei Kazantsev

Sign the Petition

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