Lawmakers introduced the TEAM USA Act to eliminate taxes on American Olympic medalists' winnings.
Quiver AI Summary
Introduction of TEAM USA Act: U.S. Representative Mike Kelly (R-PA) and Rep. Michelle Fischbach (R-MN), along with fellow lawmakers, have introduced the Tax Exemption for American Medalists (TEAM USA) Act. This legislation aims to exempt Olympic and Paralympic medalists from federal taxes on their earnings from winning medals.
Purpose of the Act: The TEAM USA Act seeks to eliminate the "Victory Tax" that has previously applied to athletes, ensuring that their accolades remain symbols of national pride without financial penalties. Representative Kelly stated, “When our Olympians bring home the gold, they shouldn’t be punished with a burdensome tax bill.”
Legislative Details: The proposal is co-led by several Republican representatives and is retroactive to January 1, 2026. The lawmakers emphasized the importance of supporting American athletes and celebrating their achievements on the global stage.
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Mike Kelly Net Worth
Quiver Quantitative estimates that Mike Kelly is worth $16.0M, as of March 2nd, 2026. This is the 81st highest net worth in Congress, per our live estimates.
Kelly has approximately $5.8M invested in publicly traded assets which Quiver is able to track live.
You can track Mike Kelly's net worth on Quiver Quantitative's politician page for Kelly.
Mike Kelly Bill Proposals
Here are some bills which have recently been proposed by Mike Kelly:
- H.R.6446: To modify the procedures for investigating claims of evasion of antidumping and countervailing duty orders.
- H.R.5275: Diagnostic Accuracy in Sepsis Act of 2025
- H.R.4566: Washington’s Trail—1753 National Historic Trail Feasibility Study Act of 2025
- H.R.4547: To advance Thomas B. Hagen on the retired list of the Navy.
- H.R.4231: Treat and Reduce Obesity Act of 2025
- H.R.4184: To amend the Internal Revenue Code of 1986 to exclude from gross income certain compensation to clinical trial participants, and for other purposes.
You can track bills proposed by Mike Kelly on Quiver Quantitative's politician page for Kelly.
