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Obama backs bill to exempt taxes on Olympians

12:28 PM, Aug 6, 2012   |    comments
Team USA women's eight crew Erin Cafaro (bow) Zsuzsanna Francia (2) Esther Lofgren (3) Taylor Ritzel (4) Meghan Musnicki (5) Eleanor Logan (6) Caroline Lind (7) Caryn Davies (stroke) and Mary Whipple (cox) celebrate their gold medal victory in the women's eight final during the London 2012 Olympic Games at Eton Dorney. Mandatory Credit: John David Mercer-USA TODAY Sports
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WASHINGTON (AP) - The White House says President Barack Obama supports a measure that would exempt U.S. Olympians from taxes on their prizes.

Press secretary Jay Carney said Monday that Obama would do "everything we can to support our athletes," including signing into law legislation introduced by Republican Sen. Marco Rubio of Florida. Rubio wants Americans who win medals to keep all of the prizes the U.S. Olympic Committee awards to winners.

Olympians who earn gold medals receive a $25,000 price, silver winners get $15,000 and bronze winners pick up $10,000.

Rubio has called taxes on the earnings ridiculous and has introduced legislation that would let the medal winners keep all their prize money.

The Associated Press

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