U.S. Senator Joni Ernst’s (R-IA) Presidential Allowance Modernization Act of 2017 passed unanimously out of the Senate Committee on Homeland Security and Governmental Affairs and now awaits full Senate consideration. This legislation reforms the outdated system that provides former U.S. Presidents with post-presidency benefits by establishing first-ever limits on the taxpayer support they receive.
“Our national debt now exceeds $20 trillion; this bipartisan effort is another important step toward reigning in Washington’s out-of-control spending,” said Senator Ernst. “It is ridiculous to continue asking taxpayers to help foot the bill for former presidents’ perks at a time when they already rake in millions of dollars from book deals, speaking engagements, and more. I look forward to seeing this commonsense legislation considered by the full Senate, and eventually signed into law.”
Currently, under the Former Presidents Act, former presidents receive a generous pension as well as a monetary allowance to cover expenses such as travel, staff, communications, and office space – all funded by taxpayers. Nowadays, with former presidents earning millions of dollars through a myriad of lucrative opportunities, the Former President’s Act should be updated to take into account the modern financial standing of former presidents.
U.S. Congressman Jody Hice (R-GA) introduced the companion legislation to the Presidential Modernization Act of 2017 in the U.S. House of Representatives, which passed unanimously out of the House Committee on Oversight and Government Reform on September 13, 2017.
Senator Ernst first introduced the bipartisan and bicameral Presidential Allowance Modernization Act on May 21, 2015. After passing both the U.S. Senate and House of Representatives with unanimous support, it was ultimately vetoed by President Obama.
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