Chaffetz, Ernst to Propose Legislation That Could Affect Obama’s Pension After Revelation of His $400,000 Speech

[Right_in_Virginia]

Chaffetz, Ernst to Propose Legislation That Could Affect Obama’s Pension After Revelation of His $400,000 Speech
Washington Free Beacon, May 4, 2017, Cameron Cawthorne

Rep. Jason Chaffetz (R., Utah) and Sen. Joni Ernst (R., Iowa) on Wednesday said they will re-introduce the Presidential Allowance Modernization Act later this month to curb the pensions of former presidents if they take outside income that exceeds $400,000.

Chaffetz, the sponsor of the 2016 bill that was was vetoed by then-President Obama, and Ernst hope that President Trump will sign it after it was reported last month that Obama agreed to speak at a health care conference hosted by Wall Street firm Cantor Fitzgerald LP in September for $400,000, USA Today reported.

Chaffetz and Sen. Joni Ernst, the sponsor of the companion Senate bill, say they will re-introduce the Presidential Allowance Modernization Act this month. The bill would cap presidential pensions at $200,000, with another $200,000 for expenses. But those payments would be reduced dollar-for-dollar once their outside income exceeds $400,000.

The issue isn't a partisan one–or at least, it wasn't last year. The bill passed both the House and Senate with no opposition, and no veto threat had come from the White House.

So when Obama's veto came one Friday night last July–on the last day for him to sign or veto the legislation–it took lawmakers by surprise. It was the 11th of Obama's 12 vetoes.

***
Obama's spokesman, Kevin Lewis, said that Obama had no comment on the proposed legislation, according to USA Today.

Obama has already shown he has considerable potential to raise money in his post-presidential career. He and his wife Michelle have signed a publishing deal for two separate books, which the Financial Times reported was worth at least $65 million. And the Wall Street speech–a health care conference planned by investment firm Cantor Fitzgerald in September–will reportedly net him another $400,000.


More: http://freebeacon.com/politics/chaffetz-ernst-propose-legislation-affect-obamas-pension-after-400k-speech/

[Frank Cannon]

The only reason we have these pensions is because Truman was a loser living in his mother in laws basement and everyone felt sorry for him. Even Nixon was able to walk out of office and fill his pockets with cash. There is no reason for the taxpayers to do this.

[Suppressed]

The only reason we have these pensions is because Truman was a loser living in his mother in laws basement and everyone felt sorry for him. Even Nixon was able to walk out of office and fill his pockets with cash. There is no reason for the taxpayers to do this.

When Ulysses S. Grant became president, he had to resign his commission and give up his pension.  When he got cancer, he was in financial difficulty, so Congress gave him back his rank and Army pension.  Still, he had to write his memoirs despite being in terrible shape from cancer, to provide for his survivors.  He finished just before he died.

[geronl]

Politician pensions getting means tested?