Consider the financial benefits that come with holding the position of most powerful person in the US, in addition to the honorable title and widespread recognition. The job of the President of the United States is not a standard 9 to 5 job. You have a lot of responsibilities, long hours, and are frequently in the spotlight. The president works nonstop for four years after being elected. Therefore, their annual compensation will be greater than that of the typical working American. Let’s learn about ‘Salaries For US President’.
Salaries For US President
But what is the president’s salary? According to US law, the president of the US must receive compensation while in office. A president is paid a salary of $400,000 and remains on the government payroll after leaving office, per Title 3 of the US Code. Additionally, the president is given a $100,000 non-taxable travel account, a $50,000 annual expenditure account, and $19,000 for amusement. Let’s read Salaries For US President.
About President’s salary: Salaries For US President
Congress increased the president’s pay to $200,000 by 1969, or around $1.5 million today. The highest recent rise for the president was up to $400,000 in 2001. In the 230 years after George Washington first assumed office, Congress raised the president’s pay five times.While security and health insurance are among the benefits that current and former presidents receive after leaving office, wardrobe allowances are not one of them. Unlike celebrities on the red carpet, presidents and their families typically do not accept or receive apparel as a “present” from designers. If a present is accepted, it is kept in the National Archives right away after being worn.
Here are the salaries earned by each of the 46 U.S. presidents throughout their terms in office, excluding any potential outside sources of income:
- 1789-1872: $25,000 a year-
George Washington to Ulysses S. Grant
- 1873-1908: $50,000 a year-
Ulysses S. Grant to Theodore Roosevelt
- 1909-1948: $75,000 a year-
William H. Taft to Harry S. Truman
- 1949-1968: $100,000 a year
Harry S. Truman to Lyndon B. Johnson
- 1969-2000: $200,000 a year
Richard Nixon to George H. W. Bush
- 2001-Present: $400,000 a year
George W. Bush to Joe Biden
Aside from the generous sum, the US president also receives the following benefits:
A mansion-sized house:
Since 1792, US presidents have resided in the White House. The estate contains six stories and 132 rooms, as well as a bowling alley and a chocolate shop, a fully furnished exercise centre with a tennis court and a swimming pool located in one of the rooms.
Allowance for refurnishing:
The White House is redecorated by presidents and their families with a $100,000 budget to make it more comfortable. The Obamas used their finances to renovate rather than accept the allowance.It’s unknown if Trump personally paid the $1.75 million that his government reportedly spent on new furniture, wall coverings, and a desk.
Cooks and housekeepers on call:
Nearly 100 people live permanently at the White House, including cooks, maids, plumbers, florists, and a head housekeeper. Each year, the maintenance alone costs $4 million.These expenses are not entirely covered for the first family, though. Among other expenses, the president receives a bill at the end of each month for the hourly wages of servers and cleanup workers hired for private parties.
A private aircraft:
The presidential Boeing 747-200B is an extremely complex aircraft. The aircraft can feed 100 people at once and has 4,000 square feet of space, a medical operating area, and private accommodations for the president. Air Force One’s operation is said to cost almost $200,000 each hour, according to CNN.
A helicopter:
Everywhere the president travels, Marine One follows. Even if one engine fails, it can still conduct rescue missions and travel at more than 150 mph. According to Business Insider, it is also equipped with ballistic armour and anti-missile systems.
A nice pension:
The Former President Act establishes the amount of pay a president will earn following his or her stint in office. Bill Clinton, George H.W. Bush, and George W. Bush each received an annual pension of $205,700 in 2016. Obama received $207,800 in 2017.
Presidents can request additional funding from Congress to pay for expenses like staff salaries and office space even though presidential pensions are fixed amounts, according to MONEY. For instance, in 2015, George W. Bush received $1,098,000 for office space, the most of any former president.
Transition cost:
It costs money to change from one administration to another. Up to six months after assuming office, a president’s transition expenditures are paid. This covers the cost of office space, employee salary, communication services, and postage related to the transition. Obama’s $8.3 million inauguration in 2008 cost a lot of money.
A country home:
A president can visit a country house to get away from his luxury residence. In Frederick County, Maryland’s Catoctin Mountain Park is where Camp David can be found. The rural house has a gym, a pool, and an aeroplane hangar, among other amenities. Since the 1930s, it has served as the presidential retreat.
Conclusion
Now we’ve learnt about ‘Salaries For US President’, There is some truth to the perception that the US President enjoys a life of luxury and is well compensated. However, as was previously stated, enormous power also carries great responsibility. As a result, they rarely have time to spend with their family or in comfort due to the number of daily responsibilities.
Frequently Asked Questions:
- What age must a person be to run for president of the United States?
The age requirement for the U.S. president is 35 years or older. Theodore Roosevelt, who took office at age 42, was the youngest president ever. Joe Biden, who was 78 when he took office, was the oldest president ever.
- When is the next US presidential election?
The 60th quadrennial presidential election for the United States will take place on Tuesday, November 5, 2024. After losing in 2020, former President Donald Trump hinted in March 2022 that he would like to run for a second non-consecutive term as president.
