hold on there's just too much going on in Congress lmao...
Makes Olympic and Paralympic medals/prize money tax-free.
Rep. Fischbach and several bipartisan co-sponsors.
In committee, no House vote yet.
This bill proposes to make all prize money received by athletes from the United States Olympic Committee and the value of any medals won in the Olympic or Paralympic Games entirely exempt from federal income tax, removing any existing income limitations. It was introduced by Representative Fischbach and a bipartisan group of co-sponsors. The bill is currently awaiting review by the House Committee on Ways and Means.
Introduced Feb 26, 2026
The bill was introduced in the House of Representatives on February 26, 2026, and sent to the House Committee on Ways and Means. This committee must approve it before it can be considered by the full House for a vote. If it passes the House, it would then move to the Senate for their consideration and vote before potentially being sent to the President to be signed into law.
If enacted, this bill would directly benefit U.S. Olympic and Paralympic athletes by ensuring they do not pay federal income tax on any prize money they receive or on the value of their medals. This means athletes would keep 100% of these earnings, regardless of their other income sources. The tax exemption would begin for all awards received after December 31, 2025.
Supporters Say
Proponents believe it eliminates an unfair tax on athletes representing the country.
Critics Say
Critics might argue all income should be taxed equally, regardless of source.
Supporters of similar legislation often argue that it's a way to honor the hard work and national pride associated with Olympic and Paralympic achievements, removing a financial burden from athletes. Conversely, critics sometimes raise concerns about creating specific tax exemptions for particular groups, advocating for a tax system where all income is treated consistently.