Ex-presidents will share in the experience of pension caps if the U.S. House of Representatives has its way. The House passed a bill Jan. 11 that would place a limit on pension payments to former presidents, and the Senate now is considering it.
Under the 1958 Former Presidents Act, former presidents are entitled to a pension equal to the annual salary of a cabinet secretary, which in 2015 amounted to $203,700. Former presidents also receive stipends to pay for postage, office space and staff salaries.
Rep. Jason Chaffetz (R-Utah) is the sponsor of the Presidential Allowance Modernization Act (H.R. 1777). The measure would:
The bill was referred to the Senate Homeland Security and Governmental Affairs Committee on Jan. 12. Sen. Joni Ernst (R-Iowa) introduced S. 1411, a similar measure, on May 21, 2015; the bill did not progress.
Under the 1958 Former Presidents Act, former presidents are entitled to a pension equal to the annual salary of a cabinet secretary, which in 2015 amounted to $203,700. Former presidents also receive stipends to pay for postage, office space and staff salaries.
Rep. Jason Chaffetz (R-Utah) is the sponsor of the Presidential Allowance Modernization Act (H.R. 1777). The measure would:
- allow each former U.S. President a lifetime annual annuity of $200,000 and an annual monetary allowance of $200,000, each adjusted annually for inflation;
- provide for the annual allowance to be reduced by the amount that a president’s adjusted gross income in a taxable year exceeds $400,000;
- deny such annuity and monetary allowances to a former president who holds an appointive or elective position in or under the federal government that pays more than a nominal amount;
- increase from $20,000 to $100,000 the annual annuity of a surviving spouse of a former president, with an annual inflation adjustment; and
- apply to the widows of former presidents.
The bill was referred to the Senate Homeland Security and Governmental Affairs Committee on Jan. 12. Sen. Joni Ernst (R-Iowa) introduced S. 1411, a similar measure, on May 21, 2015; the bill did not progress.
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