Legislation6 days ago
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To authorize implementation grants to community-based nonprofits to operate one-stop reentry centers.
HR8548Rep. Kamlager-Dove, Sydney [D-CA-37] (D-CA)
introduced
HR7731119th CongressWALLET
To amend the Internal Revenue Code of 1986 to remove the income limitation on the exclusion from gross income of any medal or prize money won in competition in the Olympic Games or Paralympic Games.
Sponsored By: Representative Fischbach
Introduced
Summary
Makes Olympic and Paralympic medals and prize money fully tax-exempt by removing the income cap on the existing exclusion. This bill would amend the Internal Revenue Code so the value of any medal awarded for competition in the Olympic Games or Paralympic Games and any prize money received from the United States Olympic Committee are not included in gross income. The change would apply to prizes and awards received after December 31, 2025, lowering the taxable income athletes must report for those awards.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Tax-free Olympic and Paralympic Prizes
If enacted, you would not pay federal income tax on the value of any medal you win at the Olympic Games or Paralympic Games. If enacted, prize money you receive from the United States Olympic Committee for such competition would also be excluded from your taxable income. This removes the prior income limit on that exclusion. The rule would apply to medals and prize money received after December 31, 2025.
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Sponsors & CoSponsors
Sponsor
Fischbach
MN • R
Cosponsors
Stauber
MN • R
Sponsored 2/26/2026
Tenney
NY • R
Sponsored 2/26/2026
Wied
WI • R
Sponsored 2/26/2026
Kelly (PA)
PA • R
Sponsored 2/26/2026
Rep. Hurd, Jeff [R-CO-3]
CO • R
Sponsored 2/26/2026
Roll Call Votes
No roll call votes available for this bill.
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