HR7731Referred to Committee

To amend the Internal Revenue Code of 1986 to remove the income limitation on the exclusion from gross income of any medal or prize money won in competition in the Olympic Games or Paralympic Games.

Share:
Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2026-02-26
Introduced
5
Cosponsors
HR
ⓘ
Type

Sponsor

Michelle Fischbach
Michelle Fischbach
Republican · MN · Representative
Votes with party: 98.5% (551 recorded votes)

Full profile: /officials/F000470

Source: Congress.gov · FEC

Cosponsors (5)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Referred to the House Committee on Ways and Means.

2026-02-26

Source: Congress.gov

Plain-English Summary

Currently, U.S. athletes who win Olympic or Paralympic medals can only exclude prize money from their taxes if they earn below a certain income threshold, meaning higher-earning athletes have to pay taxes on their winnings while lower-earning ones don't. This bill would remove that income limit so all American medal winners could exclude their prize money from taxes regardless of how much they earn. The change would primarily benefit elite athletes competing in the Olympics and Paralympics.

AI-assisted summary generated from the official bill metadata (title, subjects, actions) sourced from Congress.gov. Cached and reviewed. Always verify against the official text linked below.

Subjects

Taxation
Full bill text is not yet cached locally.
Open text viewRead on Congress.gov

Related legislation

Bills by the same sponsor or covering overlapping subjects.