S. 1411: Presidential Allowance Modernization Act of 2016

114th Congress

A bill to amend the Act of August 25, 1958, commonly known as the

Sponsor: Sen. Joni Ernst — R — IA

This bill revises provisions relating to presidential pensions to allow former Presidents a lifetime annual annuity of $200,000 and an additional annual monetary allowance of $200,000, each adjusted annually for cost-of-living increases as provided by the Social Security Act. It reduces the annual monetary allowance by the amount that a former President's adjusted gross income in a taxable year exceeds $400,000.  The bill prohibits the monetary allowance from being less than the amount that the General Services Administration and the U.S. Secret Service determine is needed to pay the increased cost of doing business that is attributable to the security needs of the former President. The annuity and allowance shall not be payable for any period during which a former President holds an appointive or elective position in or under the federal government that pays more than a nominal rate. The bill increases from $20,000 to $10...

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