Washington, DC – Today, Congresswoman Elise Stefanik (R-NY-21) voted in support of H.R. 5946 – the United States Appreciation for Olympians and Paralympians Act – legislation she cosponsored to eliminate a tax penalty imposed by the Internal Revenue Service on medals or other prizes awarded to Team USA athletes during the Olympic and Paralympic Games.
“The dedication and sacrifice all of our athletes make to represent the United States in the Olympic Games is inspiring and deserving of our nation’s full support,” said Congresswoman Stefanik. “Our district has a unique Olympic history and understands the sacrifices these athletes make on behalf of our nation. This bipartisan legislation is a commonsense fix to ensure our Olympians are not punished for being victorious.”
The United States Appreciation for Olympians and Paralympians Act would exempt the value of medals won and other prizes awarded by the United States Olympic Committee from an athlete’s taxable income. This legislation passed the House today by a vote of 415-1.
Our district is the proud home of two Olympic Games – in 1932 and then in 1980 when we watched Team USA’s famous “Miracle on Ice” win over the Soviet National Hockey Team. Additionally, Congresswoman Stefanik helped lead the effort to keep USA Luge in Lake Placid.