http://www.washingtonexaminer.com/house-votes-to-slash-taxpayer-subsidies-for-loaded-ex-presidents/article/2580154House votes to slash taxpayer subsidies for loaded ex-presidents
By Pete Kasperowicz (@PeteKDCNews) • 1/11/16 5:32 PM
The House voted Monday to dramatically cut back on the amount of taxpayer money used to cover the expenses of wealthy ex-presidents.
The Presidential Allowance Modernization Act, from Rep. Jason Chaffetz, R-Utah, is aimed at excusing taxpayers from funding the lifestyles of former presidents who increasingly seem to have no problem making millions of dollars on their own.
Former President Bill Clinton, for example, has earned more than $100 million since leaving the White House, and former President George W. Bush has made his own millions each year since he left in 2009.
"If they choose to go out and sell books and give speeches ... more power to them if that's what they choose to do, they can go out and make that type of money," Chaffetz said on the House floor Monday. "And for some, they make millions of dollars for doing so."
"At that point, I just don't think that the taxpayers should necessarily supplement their income," he added. "They don't need it at that point."
Under his bill, ex-presidents would be paid a $200,000 annual pension, and a $200,000 annual allowance. But that allowance would be cut by $1 for every dollar over $400,000 the former president earns.
That means after earning $600,000, taxpayers would no longer pay any allowance at all.
The bill would also create a $100,000 survivor benefit for the spouses of former presidents, a boost from the current $20,000.
The non-controversial bill was quickly debated and passed unanimously by voice vote, a move that sends it to the Senate.
