|Posted:||December 19, 2018 11:06 AM|
|From:||Representative Marty Flynn|
|To:||All House members|
|Subject:||Olympics Income Tax Exemption|
|American athletes who represent the United States in the Olympic Games are among the most dedicated, disciplined athletes in the world. These men and women typically have physical training regimens that require enormous amounts of time and personal sacrifice, as they pursue their dreams of earning a medal in the Olympics with incredible focus and determination. They seek to represent our country before the eyes of the world, and they reflect some of our nation’s highest values of integrity, hard work and perseverance as they compete at the highest level in sporting events. Indeed, Olympic athletes give virtually everything they have to represent our country with pride, and we should show our appreciation for them by honoring them.
The United States is one of the few countries that does not provide government funding to its Olympians, and most of these athletes rely upon small stipends from the United States Olympic Committee, along with local support or supplemental income in order to compete. My bill would exempt from state income taxes Olympic prize winnings and medals received from the United States Olympic Committee on account of competition in the Olympic Games or Paralympic Games.
Please join me in showing our patriotic pride for these dedicated athletes who sacrifice so much with limited available resources to represent our nation before the world in their chosen sport and who, in doing so, bring us such pride as athletes, as Pennsylvanians, and as Americans.
Introduced as HB538