Rep. Farenthold on Fox and Friends - Exempting American Olympians from absurd tax on their medals
August 2, 2012
Congressman Blake Farenthold (TX-27) introduced the Tax Exemptions for American Medalists (TEAM) Act. This bill will exempt U.S. Olympic athletes from having to pay taxes on the medals and awards they win competing on behalf of the United States in the Olympics. The House is focused on stopping the looming tax hike on small businesses and American families, the TEAM Act will remove another needless tax on the exceptional American athletes who represent our nation on the world's stage. Our Olympic athletes embody the American spirit and give hope to all who watch them compete on behalf of the red, white and blue.