The House easily passed legislation on Monday to reduce the pensions and federal benefits provided to former presidents. Before approving the bill by voice vote, lawmakers expressed agreement that modern-day former presidents don’t need financial assistance from the government if they already earn salaries in the millions.
Under a law established in 1958, former presidents are eligible for an annual six-figure pension, plus funds for staff salaries, office space and other expenses. Benefits for former presidents cost taxpayers $2.84 million in fiscal year 2017, according to Hice’s office.
Yet the lucrative opportunities for former presidents and their spouses are well documented. For example, former President Clinton — as well as his wife, former first lady Hillary Clinton — earned an average of $210,795 for each paid speech from the time he left office in 2001 until her 2016 campaign launch, according to a CNN analysis. Former President Obama and former first lady Michelle Obama also inked book deals that were reportedly in the tens of millions of dollars.
“The House easily passed legislation on Monday to reduce the pensions and federal benefits provided to former presidents.
“BEFORE APPROVING THE BILL BY VOICE VOTE, LAWMAKERS EXPRESSED AGREEMENT THAT MODERN-DAY FORMER PRESIDENTS DON’T NEED FINANCIAL ASSISTANCE FROM THE GOVERNMENT IF THEY ALREADY EARN SALARIES IN THE MILLIONS.”
It’s intriguing to note where this routine with regards to paying past presidents pensions got its begin.
“Under a law established in 1958, former presidents are eligible for an annual six-figure pension, plus funds for staff salaries, office space and other expenses.”
What’s more, here is the place it is probably going to get cut.
“Rep. Jody Hice (R-Ga.), the author of the bill, questioned the necessity of providing funds for former presidents who can make millions of dollars from book deals and speaking engagements.
“‘Because of these opportunities, it’s no longer necessary to provide taxpayer-funded support to former presidents in the same way as envisioned in 1958,’ Hice said during House floor debate.”
Mr. Obama vetoed a comparative bill, guaranteeing worries over the fate of presidential staff members and the security of past presidents. Whatever. This time around it will be President Trump who will have the chance to sign the legislation.
Also, there ought to be no uncertainty regarding what this president will do.