Following the revelations about the millions of dollars former President Bill Clinton makes from speaking fees, the House Oversight Committee passed a measure that would limit federal taxpayer money for former presidents. The measure passed unanimously – and while Clinton wasn’t specifically named, the Washington Post points out, “with so much focus on the Clintons’ income these days, this bill might as well be called the ‘Clinton Cash’ Act.”
The bill would provide former presidents with lifetime federal benefits of $200,000 and pay $200,000 per year as an allowance. But if a former president were to earn more than $400,000 in a year, the amount would be deducted dollar for dollar.
According to the Washington Post, Clinton made roughly $9.7 million last year, so if the bill had been law then, he would have received no federal benefits at all.
A previous report from CNBC estimated, “The federal budget spends about $3 million annually for the four living ex-presidents.”
Sen. Joni Ernst (R-IA) reportedly wants to introduce a similar bill in the Senate.
“I believe our American taxpayers shouldn’t be subsidizing these extra efforts for their office space to the tune of hundreds of thousands of dollars…when those gentlemen can make the money themselves to provide for those types of situations in one single speech,” Ernst said at an event last week.