Last year, then-president Barack Obama vetoed a bill that would have curbed the pensions of former presidents if they took outside income of $400,000 or more.
So now that former president Barack Obama has decided to accept $400,000 for an upcoming Wall Street speech, the sponsors of that bill say they’ll reintroduce that bill in hopes that President Trump will sign it.
“The Obama hypocrisy on this issue is revealing,” said Rep. Jason Chaffetz, R-Utah, chairman of the House Oversight and Government Reform Committee and sponsor of the 2016 bill. “His veto was very self-serving.”
Chaffetz and Sen. Joni Ernst, R-Iowa, the sponsor of the companion Senate bill, say they will re-introduce the Presidential Allowance Modernization Act this month. The bill would cap presidential pensions at $200,000, with another $200,000 for expenses. But those payments would be reduced dollar-for-dollar once their outside income exceeds $400,000.