Citing an unnamed administration official, the New York Times reported on Wednesday that President Obama plans to give back 5% of his salary to the Treasury, retroactive to March 1. The president’s salary is $400,000 per year, so the 5% reduction will amount to $20,000 annually.
The move was taken “in solidarity with federal workers who are going to be furloughed as part of the automatic budget cuts known as the sequester,” according to the official, who added that “the president has decided that to share in the sacrifice being made by public servants across the federal government that are affected by the sequester.”
While the administration official noted the president’s support for federal workers, he made no mention of the president’s concern for taxpayers.
Starting in April, the president will write a monthly check to the Treasury for $1,667.67, according to the unnamed official. Presumably, this payment will be in addition to the amount withheld from the President’s monthly salary for federal income taxes.
It was unclear if President Obama plans to continue this practice for the remaining three and a half years of his term or only for the next twelve months.