Rep. Ogles Introduces Excise Tax Legislation on American Athletes Playing for Foreign Nations
Washington, D.C. – Congressman Andy Ogles introduced the “OLYMPICS Act,” legislation that would tax any money made by American citizens who play in the Olympics for China, Russia, Iran, or North Korea at a rate of 100%. The legislation would apply to prize money, sponsorship income, and any other compensation earned while representing those countries in Olympic competition.
“Any American who works with a foreign adversary has not only betrayed our country, but must be stripped of all benefits from doing so. That is why I am ensuring that the IRS takes every dollar earned by athletes like Eileen Gu,” said Congressman Ogles.
“Our people, our sovereignty, and our athletic dominance will not be mocked. Under the OLYMPICS Act, the IRS will impose a straightforward excise tax on any athlete who competes in an international event for a foreign country of concern. Being American is a privilege, and anyone who openly mocks that privilege on the world stage must be punished,” Congressman Ogles said.
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