Only the U.S. tax code can turn the 'thrill of victory' into the agony of victory.

August 3, 2012

Reps. Mary Bono Mack (R-Palm Springs) and G.K. Butterfield (D-N.C.), sponsors of a bill to eliminate the taxes Olympic athletes must pay on the earnings they receive for winning medals. Olympians who win medals receive $25,000 for gold, $15,000 for silver and $10,000 for bronze from the U.S. Olympic Committee.