S.580 - Presidential Allowance Modernization Act of 2019116th Congress (2019-2020)
|Sponsor:||Sen. Ernst, Joni [R-IA] (Introduced 02/27/2019)|
|Committees:||Senate - Homeland Security and Governmental Affairs|
|Committee Reports:||S. Rept. 116-53|
|Latest Action:||Senate - 06/27/2019 Placed on Senate Legislative Calendar under General Orders. Calendar No. 128. (All Actions)|
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Summary: S.580 — 116th Congress (2019-2020)All Information (Except Text)
Introduced in Senate (02/27/2019)
Presidential Allowance Modernization Act of 2019
This bill replaces provisions governing the compensation provided to a former President.
Each former President shall receive from the United States (1) an annuity of $200,000 per year for the remainder of his or her life, and (2) a monetary allowance of $200,000 per year. Such allowance shall be reduced by the amount the former President's earned income exceeds $400,000. These monetary amounts are subject to a cost-of-living increase.
The bill increases and provides for cost-of-living adjustments to the monetary allowance for surviving spouses of former Presidents.