Olympians Face Tax for Winning Medals - WLNS TV 6 Lansing - Jackson | Your Local News Leader

Olympians Face Tax for Winning Medals

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For all the athletes fighting for gold in London, they're also competing to receive a cash payment along with their medal--money that is currently subject to a tax.

But a bill introduced in the Senate last week would eliminate that tax.

Athletes who win the gold get a $25,000 bonus, while silver and bronze get less. However, they are all taxed as high as 35 percent.

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