WASHINGTON, D.C. (WVLT) -- Sen. Lamar Alexander (R-TN) doesn't want Olympic champions to have to pay taxes on their medals.
“Our Olympians deserve our praise and accolades, not more tax bills, when they win at the Olympics," said Alexander. "While we work toward broader tax reform over the next few months, we should act now to end the taxes on their honorariums and on the value of the metal in their medals.”
On Thursday, the Tennessee senator signed on as a co-sponsor to Sen. Marco Rubio's (R-FL) Olympic Tax Elimination Act. The bill would exempt Olympic medal winners from having to pay taxes on the honorariums as well as the cash value of the medals they win.
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