Bill would exempt Olympic medalists from taxes

May 23, 2014 5:27 PM

SACRAMENTO, Calif. (AP) - The state Assembly has passed a bill exempting California athletes who win Olympic medals from paying taxes on their cash prizes.

The legislation prompted a spirited debate among lawmakers about who deserves freedom from tax collectors.

AB2323 by Republican Assemblyman Jeff Gorell of Camarillo heads to the Senate after passing 53-4 Friday.

He says Olympians deserve the break for representing their country and training with little financial support from the government. He says many athletes have meager salaries and make financial sacrifices to compete.

Medalists receive honorary payments from the U.S. Olympic Committee, generally $25,000 for gold, $15,000 for silver and $10,000 for bronze, and are taxed on that amount.

Democratic Assemblyman Das Williams of Santa Barbara says the bill sets a bad precedent by picking favorites in tax policy.

Copyright 2014 The Associated Press. All rights reserved


Most Popular