Congress plans to cancel Obama’s government pension following news of $400,000 speaking fees and a $65 million book deal
Republicans plan to reintroduce legislation capping presidential pensions
Barack Obama vetoed the bill last year
Law would reduce pensions by $1 for every dollar over $400,000 a former president earns
Obama is reportedly collecting $400,000 speaking fees and has signed a $65 million book deal
By David Martosko, US Political Editor
DailyMail.com
5 May 2017
Congress could soon throw a monkey-wrench into Barack Obama’s retirement finances, yanking his presidential pension since he is reportedly cashing in with six-figure speaking fees.
Former presidents currently receive $207,800 per year, the same amount cabinet secretaries are paid.
But lawmakers are considering a move to shrink that payment – dollar for dollar – for Oval Office retirees who collect more than $400,000 in income.
Last year Obama vetoed a bill that did just that.
‘The Obama hypocrisy on this issue is revealing,’ Utah Republican Rep. Jason Chaffetz told USA Today. ‘His veto was very self-serving.’
Chaffetz and Iowa Republican Sen. Joni Ernst plan to reintroduce the legislation soon.
The ranking Democrat on the House Oversight committee, Elijah Cummings, likely won’t stand in their way.
‘Cummings definitely supports the concept, and if we can work out the technical issues with the bill that arose late in the last Congress, we expect he would strongly support it again,’ his spokeswoman Jennifer Hoffman Werner said.
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