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U.S. Congressman Aaron Schock introduced legislation that would exempt Olympic medal winners from paying federal taxes on their awards. Olympic medalists receive $25,000 for each gold medal, $15,000 for silver and $10,000 for bronze. Currently the IRS collects 35-percent of those earnings. Schock says the current system is an example of how federal tax reform is needed. Senator Marco Rubio is carrying the Senate measure. |
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