[Congressional Record (Bound Edition), Volume 162 (2016), Part 2]
[Senate]
[Page 2830]
[From the U.S. Government Publishing Office, www.gpo.gov]




          STATEMENTS ON INTRODUCED BILLS AND JOINT RESOLUTIONS

      By Mr. THUNE (for himself, Mr. Schumer, Mr. Gardner, Mrs. 
        Gillibrand, and Mr. Isakson):
  S. 2650. A bill to amend the Internal Revenue Code of 1986 to exclude 
from gross income any prizes or awards won in competition in the 
Olympic Games or the Paralympic Games; to the Committee on Finance.
  Mr. THUNE. Mr. President, with 150 days until the start of the 2016 
Olympics in Rio de Janeiro, I am proud today to introduce S. 2650, the 
United States Appreciation for Olympians and Paralympians Act. This 
bill would ensure that America rewards the sacrifice and hard work of 
Team USA by exempting from Federal tax the medals and cash prizes they 
win at the Olympics and Paralympics.
  Our Olympians and Paralympians represent America with distinction 
because they epitomize our greatest values--determination, hard work 
and a competitive spirit. These athletes and their families sacrifice 
years of their lives for the opportunity to represent the United States 
on the world's greatest stage--the Olympics and Paralympics games. Most 
countries not only compensate their Olympic and Paralympic athletes, 
but also subsidize their training expenses with taxpayer dollars. Our 
athletes make considerable financial sacrifices to train for the 
Olympics and Paralympics, and as amateurs, receive no compensation for 
their training. Unfortunately, America's athletes are penalized with a 
tax burden for the medals and awards they receive at these games. That 
shouldn't be the case. We should be celebrating their achievements 
rather than taxing their success.
  I want to thank Senator Schumer, Senator Gardner, Senator Gillibrand, 
and Senator Isakson for working with me on this legislation. I urge all 
of my colleagues to join me in supporting the USA Olympians and 
Paralympians Act to protect and encourage the success of our athletes 
competing in the upcoming Rio Games as well as future Olympic and 
Paralympic Games. I look forward to watching Team USA compete and win 
later this year, and I wish all of our Olympians and Paralympians the 
best of luck.

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