S. 501 · 118th Congress
Presidential Allowance Modernization Act of 2023
- Stage
- In committee
- Sponsor
- Joni Ernst
- Introduced
- 2023-02-16
- Latest action
- 2023-02-16 · Introduced in Senate
Summary
Presidential Allowance Modernization Act of 2023
This bill replaces provisions governing the compensation provided to a former President.
Each former President shall receive from the United States (1) an annuity of $200,000 per year for the remainder of his or her life, and (2) a monetary allowance of $200,000 per year. Such allowance shall be reduced by the amount the former President's earned income exceeds $400,000. These monetary amounts are subject to a cost-of-living increase.
The bill increases and provides for cost-of-living adjustments to the monetary allowance for surviving spouses of former Presidents.