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President salary
| President’s salary progress | |
|---|---|
| 1789 (1st Congress) | $25,000 |
| 1873 (43rd Congress) | $50,000 |
| 1909 (61st Congress) | $75,000 |
| 1949 (81st Congress) | $100,000 |
| 1969 (91st Congress) | $200,000 |
| 1999 (106th Congress), and currently in effect | $400,000 |
According to the “P.L. 2 – JAN. 19, 1949” statute, there was no taxation on the $50,000 expense allowance. “P.L. 183 – OCT. 20, 1951” stipulated that the allowance is subject to taxation. By adding the sentence “no amount of such expense allowance shall be included in the gross income …,” the “P.L. 108–199 – JAN. 23, 2004 118 STAT.” statute once more made it clear that the allowance is not taxable.
Also, the President may request funding from Congress for his “travel costs,” up to a maximum of $100,000 annually.
Also, an annual budget of up to $1,000,000 is allocated for the President to meet unforeseen demands that advance national “security, defense, or interest.” The fund can be used to cover unforeseen costs for administrative support and staff.
George W. Bush was the president at the time of “recent pay raise,” which went from $200,000 to $400,000 annually.
The President’s yearly pay was increased to $75,000 by Congress in 1909. Congress upped the President’s salary to “$100,000 per year” in 1949 and gave him a $50,000 annual spending allowance.
Donald Trump, is not the first president to forgo a salary in office. John F. Kennedy was the second, and “Herbert Hoover” was the first.
Former Presidents presently get a pension of $246,400 (per year) in the calendar year 2024, must equal to the pay of “Executive Level I” (Cabinet Secretaries) employees in accordance to statute. As approved by the “Former Presidents Act” (FPA), the Secretary of the Treasury is in charge of disbursing the monthly pension benefits. Ref. – “Salary Table No. 2024-EX”.
A $20,000 annual financial allowance is due to the “widow” of a former president. The widow has to leave any other annuity or pension to which she may be entitled under “any other Act of Congress,” in exchange for receiving this allowance.
Each fiscal year, the “Administrator of General Services” may request up to $1,000,000 for each former President and up to $500,000 for each former President’s spouse for security and travel-related costs. In order to qualify for these kinds of costs, the ex-president and/or spouse must not be entitled to lifetime protection by the “United States Secret Service” as per “title 18, U.S. Code, section 3056(a)(3).”
President salary from which fund -
The US Department of Treasury will be used to pay the “President’s salary” (determined by law) for their services.
In order to maintain the President’s autonomy from Congress and state governments, “Article II, Section 1, Clause 7” prohibits Congress from changing the President’s salary while he is in office and also prohibits the President from receiving any additional emoluments from “the US or any of its allies.”
With the January 2001 administration shift, an amendment included in Sec. 644 of “H.R.2490 – Treasury and General Government Appropriations Act, 2000” raised the President’s annual pay to $400,000.
*the aforementioned data came from “ipl.org/div/farq/pensionfarq.html”, “uscode.house.gov/view.xhtml?path=/prelim@title3/chapter2&edition=prelim”, “websites.umich.edu/~graceyor/govdocs/fedprssal.html”, and “sgp.fas.org/crs/misc/RS20115.pdf”.
That’s all friends.
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