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.

3/24/2026, 1:37 AM

Summary of Bill HR 7731

The bill "H.R. 7731" introduced in the 119th Congress on February 26, 2026, aims to amend the Internal Revenue Code of 1986 by removing 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.

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Current Status of Bill HR 7731

Bill HR 7731 is currently in the status of Bill Introduced since February 26, 2026. Bill HR 7731 was introduced during Congress 119 and was introduced to the House on February 26, 2026. Bill HR 7731's most recent activity was Referred to the House Committee on Ways and Means. as of February 26, 2026

Bipartisan Support of Bill HR 7731

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 7731

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 7731

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.

Comments

Arleth Lynn

1,095

4 months ago

I can't believe this bill is trying to take away 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. This is just ridiculous! Why should athletes be able to keep all their prize money tax-free while the rest of us have to pay taxes on our hard-earned income? It's not fair at all. This bill needs to be stopped before it becomes law. #unfair #taxes #Olympics