To amend the Act of August 25, 1958, commonly known as the Former Presidents Act of 1958, with respect to the monetary allowance payable to a former President, and for other purposes.
About This Bill
Committee
Latest Action · February 16, 2023
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Presidential Allowance Modernization Act of 2023
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.
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