Senate Finance Committee legislation would threaten Idaho Olympic hopefuls.
A document released by the USOC National Governing Bodies Committee states that this proposal currently calls for a 20 percent tax on all revenue that the USOC (and all the NGB’s, the groups that oversee the individual sports within the Olympic Movement) generate from sponsorships and licensing. This action is being called the Unrelated Business Income Tax.
This action seriously undermines the Olympic and Paralympic movements in the U.S. and, certainly, Idaho. It is estimated that these actions could negatively impact the Olympic and Paralympics to the amount of $150 million over the next “quad” and the individual sport organizations in a similar manner.
It is difficult enough making a U.S. Olympic or Paralympic Team without the added stress of the loss of funding.
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Idaho has a rich history of homegrown athletes in both the Winter and Summer Games and as Idahoans need to step up and let our senators know that the current tax status of the USOC must be preserved so that Idaho can continue to support our athletes as we move towards Pyeongchang, Tokyo, Beijing, Paris and back to Los Angeles in 2028.
Michael Conroy, Meridian