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Congress Wants To Give American Olympic Champions A Tax Break

The L.A. Times' Richard Simon reports on an effort by lawmakers to eliminate the fairly onerous taxes winning Olympic athletes currently face paying on their prizes. "A gold medal winner will pay the IRS up to $8,986, according to Americans for Tax Reform Foundation, whose analysis caught lawmakers’ attention," he writes. "Silver medal winners face a tax of up to $5,385, and bronze medal winners face a tax of up to $3,502, the group says.
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