Washington, March 2 -- Rep. Mike Kelly issued the following press release:
On Friday, U.S. Representative Mike Kelly (R-PA),Chairman of the Ways & Means Subcommittee on Tax, Rep. Michelle Fischbach (R-MN), and other lawmakers introduced the Tax Exemption for American Medalists (TEAM USA) Act, legislation designed to ensure that when our athletes dominate the global stage, the IRS does not get to treat their excellence as a taxable offense.
The TEAM USA Act eliminates the "Victory Tax" for all American medalists, ensuring that the rewards of gold, silver, and bronze remain exactly what they are: symbols of national glory.
"America's Olympians exemplify the spirit and greatness of our Nation. When our Olympians bring home the gold, they sh...