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.

This bill removes the income limit that currently applies to prize money and medals won at the Olympic and Paralympic Games. Under current law, athletes can exclude up to $200,000 of such winnings from their taxable income, but this bill would eliminate that cap entirely. The change would affect all athletes who compete in these international events and receive medals or prize money from the United States Olympic Committee. The new rules would apply to any awards received after December 31, 2025.