WASHINGTON -- The U.S. House is seeking to cut back the $3.5 million in taxpayer money that goes to former presidents each year, as a bill cleared committee Tuesday with unanimous support in both parties.
Former president Jimmy Carter is the cheapest of the four living ex-presidents, according to a 2014 Congressional Research Service report, receiving $466,000 in pensions and benefits, including $109,000 for his Atlanta office space, from the federal government.
The House bill would cap pensions at $200,000 per year (the current amount) and expenses at $200,000 (far less than what they now get).
Then for every dollar an ex-president earns over $400,000 per year, the federal government would reduce expense and travel payments by a dollar. Therefore, if a former president earns more than $600,000 per year, he (or a possible future she) would not get any federally funded expenses.
Here's more from the Associated Press:
Rep. Jason Chaffetz, R-Utah, chairman of the House Oversight panel and a co-sponsor of the bill, said it was not aimed at anyone, but was a simple matter of fairness.
"History shows that former presidents do very well financially after they leave office," Chaffetz said in a statement before Tuesday's vote. "In fact all former presidents are millionaires, making it unlikely that they depend upon their taxpayer-funded allowance to make ends meet."
It's unclear whether Carter earns more than the cap.
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