U.S. Rep. Mike Kelly (R-PA) cosponsored a GOP-led bill on Feb. 26 that aims to permanently eliminate the federal “Victory Tax” on Olympic and Paralympic medalists.
“America’s Olympians exemplify the spirit and greatness of our nation,” Rep. Kelly said. “When our Olympians bring home the gold, they shouldn’t be punished with a burdensome tax bill. The TEAM USA Act rewards the hard work, success, and the American Dream.”
Rep. Kelly cosponsored the Tax Exemption for American Medalists (TEAM USA) Act, H.R. 7731, along with bill sponsor U.S. Rep. Michelle Fischbach (R-MN), fellow cosponsor U.S. Rep. Pete Stauber (R-MN), and three others.
The legislation would exempt all American gold, silver and bronze medalists from paying federal income taxes on medals and prize money earned at the Olympic and Paralympic Games. The TEAM USA Act is retroactive to January 1, 2026.
“When our athletes win, the whole country wins with them,” Rep. Fischbach added. “We should be doing everything in our power to celebrate these victories.”