Salary during and after U.S. presidency

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During his term, the President of the United States (Joe Biden through 2021) will receive an annual salary of $400,000 and an expense account of $50,000. Congress added the expense account in 1949. This is used to pay for the president’s personal expenses, such as groceries and dry cleaning.

The U.S. Title 2 Code also offers a $100,000 tax-free travel account. Congress has approved $19,000 for official presidential receptions and related expenses. 2 Perks include free rides in the Presidential Limousine on Marine One and Air Force One.

The president gets a furnished apartment for free at the White House. The first family will also receive $100,000 to redecorate and make the White House feel at home. Maintenance of the White House requires permanent residents, including maids, cooks, footmen and janitors.

The president receives free medical care from the official doctor in charge of the White House medical department. 6

Unlike other federal employees, the president and vice president are expressly permitted to accept gifts for themselves or on behalf of family members, as long as the gift is not solicited, coerced, or in exchange for official action.

Unpaid president

The constitution requires the president to receive a salary. The Founding Fathers wanted to protect even wealthy presidents from misfortunes that might induce them to accept bribes. The salary may also have been designed in such a way that a lack of personal wealth does not prevent a president-elect from taking office.

All or part of the four presidents took pay cuts. Instead, they donate in whole or in part.

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Donald J. Trump has donated an annual salary of $400,000 to various federal departments from 2017 to 2020. Trump’s net worth is about $2.5 billion.
John F. Kennedy donates his $100,000 salary to charity. He is the beneficiary of a multi-million dollar trust fund. He also donated his salary during his 14 years in Congress.
Herbert Hoover distributed his salary to various charities. He gave some to his employees. Hoover’s net worth was about $4 million in 1913, and today is about $115 million.
George Washington initially wanted to forgo his $25,000 salary. He also gave up his salary when he was our country’s military commander.

Vice President Salary

In calendar year 2022, U.S. Vice President Kamala Harris will receive an annual salary of $261,400 starting in 2021. The Ethics Reform Act of 1989 mandated that both the Vice President and Chief Justice of the United States and the Speaker of the House of Representatives be paid the same salary. But through 2022, the chief justice of the United States will earn an annual salary of $286,700 and the speaker of the House of Representatives will earn $223,500. The Vice President receives an annual cost-of-living allowance.

The Vice President’s pension is calculated like other members of Congress. The former vice president and his family are entitled to Secret Service protection for six months after leaving office and temporary protection at any time thereafter.

President’s Salary in History

Congress has given the president only five raises. The president cannot get a raise during his current term. As such, most raises are gifts from outgoing presidents to future presidents.

Here’s what a president’s salary has been historically and what it’s worth in dollars today. Inflation has given all former presidents more purchasing power than today’s top national leaders.

1789: The president’s salary is $25,000. By 2022, it will be worth more than $800,000.
1873: President Ulysses S. Grant signed legislation authorizing his second term to increase. A salary of $50,000 will be worth $1.18 million by 2022.
1909: William Taft’s salary was $75,000. By 2022, it will be worth $2.34 million.
1949: Harry Truman received a salary of $100,000. By 2022, it will be worth $1.18 million.
1969: Richard Nixon’s $200,000 salary will be worth $1.59 million by 2022.
2001: George W. Bush receives $400,000. The payments made in 2001 will be worth about $648,123 by 2022.

How long is the president’s salary?

The Former Presidents Act of 1958 ensured that the President of the United States was paid for life.

Congress passed President Harry Truman’s Articles Act. After leaving office, he faced many financial problems. The law grants pensions to former presidents. They also receive funding for travel, office space, support staff and transportation costs. Compensation should be comparable to federal agency heads. In 2021, these executive-level employees will receive $221,400.

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The former president will also receive seven months of transitional services. It includes the cost of processing outgoing executives and training new executives.

You will receive funding for office space and office staff. Total employee salary is capped at $150,000 per year for the first 30 months and $96,000 per year thereafter. The widow or widower of a former president can receive $20,000 per year.

How long does it take for a president to get secret service?

The former president and his spouse enjoy lifetime Secret Service protection. In 1994, Congress shortened the term of presidents who took office after 1997 to 10 years. However, Congress reinstated lifetime protection in 2012. Children of former presidents are protected by the Secret Service until they turn 16. The cost of Secret Service protection was not disclosed.

The former president’s bill provides $1 million a year for security and travel if they’re not protected by the Secret Service. Without Secret Service protection, the former first spouse would receive $500,000 per year in security and travel expenses.

Salary of successive presidents

The salary of a former president is determined by the former presidents Act. This amount corresponds to the salary of the head of the executive department. Other fees vary based on the needs of each president.

The data below is from the fiscal 2022 budget and is current as of April 2022.

Jimmy Carter

Jimmy Carter served from 1977 to 1981. During his tenure, he had an annual income of $200,000 and an expense account of $50,000.

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As a former president, Carter will receive $489,000 in fiscal 2022. This includes $225,000 in pension benefits, $118,000 in office space and $122,000 in contract compensation and benefits.

Bill Clinton

Bill Clinton served from 1993 to 2001. He earns $200,000 a year and spends $50,000.

As a former president, Clinton is expected to receive about $1.2 million in fiscal 2022. This includes $219,000 in employee compensation and benefits and $244,000 in pensions. He has no travel budget, but paid $612,000 for office space.

George W. Bush

George W. Bush served from 2001 to 2009. He was the first president to earn $400,000 a year. twenty one

As a former president, Bush is expected to receive about $1.2 million in fiscal 2022. This includes $221,000 in employees and $238,000 in retirement benefits. He has no travel budget, but will receive $542,000 in office space and tens of thousands of dollars in other expenses.

Barack Obama

Barack Obama served from 2009 to 2017. As president, he earns $400,000 a year and has a spending account of $50,000.

As a former president, Obama is expected to receive about $1.2 million in fiscal 2022. That includes $251,000 in his pension. He received $220,000 in benefits and compensation for his colleagues. Obama will receive $603,000 for office space, communications, utilities and other expenses. He has no travel budget for 2022.

Donald Trump

Donald Trump’s term is from 2017 to 2021. His annual income is $400,000 and his expense account is $50,000. He donates his salary to a different federal department each quarter.

As a former president, Trump will receive about $900,000 in fiscal 2022. That includes $225,000 in his pension. He also received $291,000 in employee compensation and benefits, $160,000 in office space, $34,000 in communications and other expenses, and $159,000 in unspecified services.

Frequently Asked Questions (FAQ)

How old can you be to be president of the United States?

The President of the United States must be at least 35 years old. The youngest president became Theodore Roosevelt, who took office at the age of 42. The oldest president is Joe Biden, who was 78 at his inauguration.

Did President Trump donate his salary?

Donald Trump has donated his salary to various federal agencies, including $100,000 to the Assistant Secretary of Health and Human Services to “continue to fight the opioid crisis.”

What was the salary of President George Washington?

Washington made $25,000 a year, or $806,000 today. That’s much higher than the current president’s $400,000 salary.

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