Lawmaker: Olympic tax bill popular but 'bad policy'

BY foxsports • September 30, 2016

WASHINGTON (AP) U.S. Olympic medal winners will soon get a tax break. But not everyone thinks getting rid of the so-called victory tax is a good idea.

Democratic Rep. Jim Himes of Connecticut calls the bill bad policy.

President Barack Obama is expected to sign the measure, which repeals a tax on cash prizes awarded to U.S. medal winners: $25,000 for gold, $15,000 for silver and $10,000 for bronze.

The bill sailed through the House and Senate, with Himes casting the lone dissenting vote. The four-term lawmaker called it a ''feel-good bill'' that unnecessarily complicates an already complex tax code.

Himes said Congress has opened the door to similar tax breaks for Nobel Prize winners, astronauts or even inner-city teachers.


share story