Ernst Introduces Bill to Reduce Ex-Presidents' Taxpayer Benefits

Senator Joni Ernst of Iowa has introduced the 'Presidential Allowance Modernization Act,' which aims to reduce taxpayer-funded benefits for former presidents who earn substantial incomes from speaking fees and media deals. The proposed legislation would set a pension of $200,000 annually for former presidents, with allowances reduced if their income exceeds $400,000. Ernst argues that taxpayers should not support individuals who are financially secure post-presidency, citing lucrative deals made by former presidents like Barack Obama. Additionally, the bill proposes to increase the pension for surviving spouses of former presidents from $20,000 to $100,000 per year. This move follows Ernst's broader efforts to ensure tax dollars benefit all Americans rather than political figures. A similar version of the bill was passed in 2016 but was vetoed by Obama.