Senator backs bill to nix tax for Olympic winners
WASHINGTON (AP) - Americans who win gold, silver or bronze at the Olympics get cash awards from the U.S. Olympic Committee of tens of thousands of dollars.
Sen. Marco Rubio of Florida doesn't want them paying taxes on the honorariums. The Republican lawmaker introduced a bill Wednesday that would exempt medal winners from the taxes, calling the penalty ridiculous.
The USOC says a gold medalist gets $25,000, a silver medalist $15,000 and a bronze winner $10,000.
What about NBA stars on the basketball team like the Miami Heat's LeBron James?
Rubio's office says that the Olympics are unique, with U.S. athletes volunteering to represent the country, and that success should be celebrated, not taxed.
Would you like to contribute to this story? Join the discussion.