H.R.1496 - Presidential Allowance Modernization Act of 2019116th Congress (2019-2020) |
|Sponsor:||Rep. Hice, Jody B. [R-GA-10] (Introduced 03/05/2019)|
|Committees:||House - Oversight and Reform|
|Committee Meetings:||03/26/19 10:00AM|
|Latest Action:||Senate - 10/17/2019 Received in the Senate. (All Actions)|
This bill has the status Passed House
Here are the steps for Status of Legislation:
- Passed House
- Passed Senate
- To President
- Became Law
Summary: H.R.1496 — 116th Congress (2019-2020)All Information (Except Text)
Passed House (10/16/2019)
Presidential Allowance Modernization Act of 2019
This bill revises the compensation provided to a President who leaves office after enactment of this bill or such a President's widow or widower.
Each such President, excluding a President removed from office through impeachment, shall receive (1) an annuity of $200,000 per year for the remainder of the President's life, and (2) a monetary allowance of $200,000 per year. Such allowance shall be reduced by the amount the President's earned income exceeds $400,000. These monetary amounts are subject to a cost-of-living increase.
The widow or widower of each such President shall be entitled to receive $100,000 per year, payable monthly, if such individual waives the right to each other annuity or pension to which the individual is entitled. This amount is subject to a cost-of-living increase.