‘Cut ex-pres­i­dents’ funds’:


Arab Times - - INTERNATIONAL -

The House of Rep­re­sen­ta­tives voted Mon­day to re­duce the pen­sions and other ben­e­fits avail­able to for­mer pres­i­dents in view of the "high-pay­ing op­por­tu­ni­ties" af­forded mod­ern US lead­ers upon leav­ing of­fice.

The Pres­i­den­tial Al­lowance Mod­ern­iza­tion Act was passed by voice vote, mean­ing con­sen­sus, but Se­nate pas­sage, and the pres­i­dent's sig­na­ture, are needed be­fore it can be­come law.

It is in­tended to re­form a 1958 law that en­ti­tles for­mer pres­i­dents to a six-fig­ure pen­sion as well as bud­gets to main­tain staff and of­fices.

But Con­gress­man Jody Hice, a Repub­li­can from Georgia who in­tro­duced the bill, ar­gued the law needed to be re­formed.

The bill would cap an ex-pres­i­dent's pen­sion at $200,000 a year, a re­duc­tion of just un­der $4,000, while the bud­get for of­fice and staff ex­penses would be lim­ited to $500,000 an­nu­ally.

The fig­ure would be re­duced to $350,000 in the sixth year af­ter leav­ing of­fice, and $250,000 in the eleventh. (AFP)

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