President Obama Supports Bill To Exempt Olympic Winners From Medal/Prize Taxes
With politicians in this country unable to agree on practically anything, at least take some solace in the fact that sporting events seem to get politicians cooperating better than national policy. Last week, Senator Marco Rubio proposed a bill that would exempt Olympic medal winners from having to pay federal taxes on their medals, and today White House press secretary Jay Carney said that President Obama supports the bill and will sign it if Congress passes it.
Carney told reporters that the president will sign off on the bill “if it were to get to his desk.”
“The president believes that we should support efforts — like, I think the bill you are referencing — to ensure that we are doing everything we can to honor and support our Olympic athletes who have volunteered to represent our nation at the Olympic Games.”
However, one Olympic athlete has already spoken out against the blanket tax proposal. U.S. beach volleyball player Todd Rogers suggested a compromise, that professional NBA players and such would have to pay taxes on their medals, but “if…a track guy who makes $25,000… [and] won a gold medal to boost his earnings to $50,000, no, don’t tax that guy.”
h/t ABC News
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