November 14, 2017
The House votes to cut the pensions of former U.S. presidents.
In a voice vote on Monday, the House passed the Presidential Allowance Modernization Act, which would cap presidential pensions to $200,000 a year.
Lawmakers cited the money made by former presidents from speaking at events and from book deals, adding they shouldn’t be a burden to taxpayers.
Former President Obama has vetoed similar legislation in the past, arguing it didn’t allow enough time for compliance.
Under the new bill, staffing costs would also be gradually reduced from $500,000.
“It’s a noble purpose, but times have changed,” said Georgia Representative Jody Hice. “When the former presidents act was passed, Herbert Hoover and Harry Truman were the only two living former presidents…Unlike the more recent former presidents, they did not earn millions of dollars from speaking fees and book deals after leaving office.”
The bill now requires a vote in the Senate before it can be sent to the president’s desk.