Bill · H.R. 7707· House(119-HR-7707)
OLYMPICS Act
- Introduced
- 2/25/2026
- Last activity
- 2/25/2026 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Andrew Ogles
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill, titled the "OLYMPICS Act," seeks to amend the Internal Revenue Code of 1986. It proposes a 100 percent tax on income earned by certain individuals from competing in global athletic events for foreign entities of concern. This income includes amounts from competition and related sponsorships. The bill applies to U.S. nationals and lawful permanent residents. These changes would take effect for amounts received after the Act is enacted.
Yes
Does this raise taxes on the highest earners?+8
The bill imposes a 100 percent tax on high-value income earned from global athletic competitions and sponsorships.
The opposite
Would high-income households be better off under this?-7
The bill specifically targets high-earning athletes competing in global events by taxing all such income at 100 percent.
Would immigrants be better off under this?-5
The tax applies to lawful permanent residents, which can include many immigrant populations.
Who it would affect, and how
Potential Positive Impacts for People
The provided text does not list any specific positive impacts or benefits for individuals or groups of people.
Potential Negative Impacts for People
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Tax on Income: Under Section 2(a), a tax equal to 100 percent is imposed on amounts received from competing in global athletic events on behalf of a foreign entity of concern, as well as any resulting sponsorships.
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Impact on Specific Individuals: This tax applies to "covered individuals," which Section 2(b)(1) defines as any national of the United States or an alien lawfully admitted for permanent residence.
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Impact on Competition Participation: Under Section 2(c), the tax affects participation in events such as the Summer Olympics, Winter Olympics, World Cup, Tour de France, Wimbledon, and other competitions where individuals represent countries.
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For High Income Households-7Good For Immigrants-5
- Economy And Finance
- Increases Wealthy Taxes+8
- 2/25/2026
- Referred to the House Committee on Ways and Means.
- Introduced in House