It looks like the GOP side of Congress wants to take a long look at paying retirement income to Presidents who use the fame of their office to generate more income. The retirement salary is set. There has been no limit on other earnings. Now some GOP leaders want to introduce an offset one the earnings reach a certain level. Starting with President Nixon, Presidents have made appearances and given speeches for a fee. Nowadays it is not a nominal fee unless you consider $400,000 per hour as nominal.
As Written By and Seen First on Fox News:
As former President Barack Obama hits the speaking circuit, Republican lawmakers say they plan to reintroduce a bill that would directly target pensions for ex-presidents raking in more than $400,000 after leaving the Oval Office.
House Oversight and Government Reform Committee Chairman Jason Chaffetz, R-Utah, and Sen. Joni Ernst, R-Iowa, plan to dust off the Presidential Allowance Modernization Act later this month, according to USA Today.
The push comes after Obama decided to accept a $400,000 speaking fee – the same amount as his White House salary – for a speech at a health care conference run by Wall Street investment firm Cantor Fitzgerald in September.
“The Obama hypocrisy on this issue is revealing,” Chaffetz told USA Today.
He also tweeted the USA Today’s headline, “Obama’s $400,000 speech could prompt Congress to go after his pension,” with the vow, “Yes, it will.”
The legislation would cap presidential pensions at $200,000 (they’re currently slightly higher), but reduce that amount “dollar-for-dollar” once their outside income tops $400,000, according to the report.
In 2016, Chaffetz authored the original bill, which Obama vetoed. At the time, Obama reasoned that he had consulted living U.S. presidents who agreed the bill would have ……..
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