A bill 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.
Presidential Allowance Modernization Act of 2016
(Sec. 2) This bill revises provisions relating to presidential pensions to allow former Presidents a lifetime annual annuity of $200,000 and an additional annual monetary allowance of $200,000, each adjusted annually for cost-of-living increases as provided by the Social Security Act. It reduces the annual monetary allowance by the amount that a former President's adjusted gross income in a taxable year exceeds $400,000.
The bill prohibits the monetary allowance from being less than the amount that the General Services Administration and the U.S. Secret Service determine is needed to pay the increased cost of doing business that is attributable to the security needs of the former President.
The annuity and allowance shall not be payable for any period during which a former President holds an appointive or elective position in or under the federal government that pays more than a nominal rate.
The bill increases from $20,000 to $100,000 the annual annuity of a surviving spouse of a former President.
(Sec. 3) Nothing in this bill shall be construed to affect: (1) a law relating to the security or protection of a former President or a family member of a former President, or (2) funding to carry out such security or protection.
(Sec. 4) The bill applies to an individual who is a former President or the widow of a former President as of the date of enactment.
(Sec. 5) For a former President receiving a monetary allowance before the enactment of this bill, the reduction of the monetary allowance for adjusted gross income required by this bill applies, except to the extent that it would prevent the former President from being able to pay the cost of a lease or other contract that is in effect on the day before enactment of this bill and under which the former President makes payments using the monetary allowance.
On motion to refer the bill and the accompanying veto message to the Committee on Oversight and Government Reform. Agreed to without objection. (consideration: CR H7178)
Introduced in Senate
Read twice and referred to the Committee on Homeland Security and Governmental Affairs.
Committee on Homeland Security and Governmental Affairs. Ordered to be reported with an amendment in the nature of a substitute favorably.
Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment in the nature of a substitute. With written report No. 114-271.
Committee on Homeland Security and Governmental Affairs. Reported by Senator Johnson with an amendment in the nature of a substitute. With written report No. 114-271.
Placed on Senate Legislative Calendar under General Orders. Calendar No. 507.
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