Lawmaker Aims To Axe Taxes On Olympics Medal Winners
ST. PAUL, Minn. (AP) — A Minnesota lawmaker wants the state's Olympians to get a tax break.
Republican Rep. Pat Garofalo said Wednesday he'd introduce a bill next year to exempt Rio's medal winners from state taxes. Similar legislation is proceeding at the federal level.
U.S. Olympians get $25,000 for a gold medal, $15,000 for silver and $10,000 for bronze. Those cash winnings and the value of medals are taxed as income by the federal government and the state. That means a single gold medal winner could pay up to $9,000 in taxes.
Garofalo says it's not right to financially penalize the winners. His bill would apply to Rio winners and future Olympics.
The Legislature reconvenes in January.
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