Olympic Tax Relief Bill Signed Into Law

President Obama signed the United States Appreciation for Olympians and Paralympians Act of 2016 into law.

During this strenuous time in our country where we see a great deal of political bickering, I’m happy to see that some of our important bipartisan legislation is being passed and signed into law. This is a fist step to examining and revamping the tax code, and I look forward to further work that will be beneficial for hardworking Americans.

Under this law, Olympians who make $1 million or less a year will no longer pay taxes on the medals they earn in the Olympics and Paralympics. Many athletes of Team USA are living below poverty levels, making less than $18,000 a year, and relying on family and public assistance to get by each year.

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