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Rep. Hice Lauds House Passage of Presidential Pension Reform Bill

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Washington, October 17, 2019 | comments

WASHINGTON, D.C. – U.S. Representative Jody Hice (R-GA), Ranking Member of the House Committee on Oversight and Reform Subcommittee on National Security, today applauded the passage of his bill, H.R. 1496, the Presidential Allowance Modernization Act of 2019, in the U.S. House of Representatives. This bipartisan legislation amends the Former Presidents Act of 1958 to limit the pensions provided to former presidents, update annuities for surviving spouses, and reduce allowances provided for post-presidential office expenditures.

“Between book deals and paid speaking engagements, our modern-day presidents earn millions of dollars in outside income following their time in office,” said Congressman Hice. “Given that our Nation’s current federal deficit is rapidly closing in on $23 trillion, it’s imperative that we phase out unnecessary and excessive spending wherever it occurs. Our former presidents ought to set the standard, and I’m thrilled that the House took an important step to reform this outdated system and ensure responsible, measured use of taxpayer money. I now look forward to continuing to work with Senator Joni Ernst to get this forward-thinking legislation across the finish line.”

“Former presidents rake in millions from speaking engagements, Netflix deals, and other big money windfalls once they leave office; but, believe it or not, taxpayers continue to foot the bills for the unlimited perks they still benefit from, like travel expenses and office space,” said Senator Joni Ernst. “That’s simply ridiculous. My bipartisan bill would put a stop to these unlimited perks for future presidents, saving taxpayers millions. I’m thrilled we have growing bipartisan and bicameral momentum behind my commonsense legislation, and I’ll continue the push to get it signed into law.”

The Presidential Allowance Modernization Act of 2019 would:

  • Set the pension for former presidents at $200,000 per year;
  • Limit the allowance for expenses such as office space and leases, furniture, and supplies, as well as staff salaries to a lump monetary sum of $200,000 per year;
  • Reduce the monetary allowance dollar-for-dollar if a former president earns in excess of $400,000 in earned income;
  • Increase the pension for the spouses of former presidents from $20,000 to $100,000 per year; and
  • Maintain the funding for the security and protection of a former president or a family member.

Companion legislation, S. 580, was introduced in the U.S. Senate by Senators Joni Ernst (R-IA) and Maggie Hassan (D-NH) on February 26, 2019. The full bill text can be found here.

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