Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ US https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ That’s how much Trump’s presidential pension costs – if he keeps it

That’s how much Trump’s presidential pension costs – if he keeps it

The law does not grant a pension to presidents whose terms end with “removal” from impeachment. Although Trump is still facing impeachment in the Senate, he cannot be convicted as a result of his removal from office, as his term ended before the trial.

So if the Senate convicts him, a second vote is likely to be needed to make Trump inadmissible for his pension and benefits, according to Michael Gerhard, a law professor at the University of North Carolina. This second vote will remove him from the post of former president, which will lead to the loss of the advantages of this post, according to Gerhard. But other experts doubt whether even a second vote could take away his pension and privileges.

“That seems pretty dubious,”

; said Damian Brady, director of research at the National Taxpayers’ Foundation, a state-run spending monitoring organization.

Other benefits

Other benefits Trump will receive, in addition to his pension, could be significant – travel allowances, office space and staff salaries could exceed $ 1 million a year for a former president. According to an analysis by the National Taxpayers’ Foundation in 2000, the four current former presidents have been granted a total of $ 56 million in privileges and benefits.

Brady said one of the most expensive bonuses for former presidents is renting office space, which has no restrictions. Former presidents Bill Clinton, George W. Bush and Barack Obama covered more than $ 500,000 in office rent last year, Brady said. Jimmy Carter’s rent was only a small part of that – $ 118,000. But that was still essential.

And Trump, whose business has charged U.S. taxpayers more than $ 1 million in rent and other services since taking office, could be reimbursed for office rent on his own property, Brady said.

One bonus that Trump will not receive from other former presidents is health insurance – the president must be in the federal office for at least five years to receive this bonus, so neither Trump nor Carter is eligible.

Trump’s wealth

Maybe retirement doesn’t matter that much – Trump seems to have done well without his presidential salary during his tenure.

Trump and the White House regularly announce that he has returned his annual presidential salary of $ 400,000 to various government departments while in office.
Donald Trump's money tap is off

The Presidential Pensions Act was passed in 1958 when Harry Truman, then one of the two living former presidents, was in financial trouble. But there have been calls for the suspension or reduction of pensions and privileges for former presidents, especially since today most presidents have significant potential to profit from books and lectures.

“This law was originally passed as a serious case. In the modern era, these former presidents have so much income potential that it has become a subsidizer for millionaires,” Brady of NTUF said.

Brady says that even if the benefits reach just $ 4 million a year, a small part of the federal budget, which is in the trillions, it is money that can be saved.

“Every opportunity we can reduce unnecessary costs should be seized,” he said.

In 2016, the Republican-controlled Congress passed a bill that would set a fixed $ 200,000 a year in pension payments and limit other spending to $ 200,000 a year per president. The increase in the cost of living for the pension will be linked to the same inflation-based formula used to increase social security benefits.

But that $ 400,000 could quickly disappear under legislation that cuts pension and dollar payments for every dollar a former president earns more than $ 400,000. So taxpayers go out completely after a president earns $ 800,000 a year.

Obama vetoed the law, telling Congress he did so because the bill would also cut the salaries and benefits of former presidents’ employees and make it harder for the Secret Service to protect former presidents.

“If Congress returns the bill, addressing these concerns, I will sign it,” he said.

The legislation never returned to the Obama bureau. And until the House passed such legislation in 2019, after Democrats took control of the hall, the Senate never voted on it.

Source link