President Gets Salary Increase
Effective Jan. 1, 2001, the salary of the president of the United States was increased to $390,000 per year including a $50,000 expense account. Any unused amount of the $50,000 expense account is returned to the Treasury.
The increase came as part of the Treasury Department appropriations included in the Consolidated Appropriations Act 2001 and signed into law by President Clinton on Dec. 21, 2000.
"For compensation of the President, including an expense allowance at the rate of $50,000 per annum as authorized by 3 U.S.C. 102, $390,000: Provided, That none of the funds made available for official expenses shall be expended for any other purpose and any unused amount shall revert to the Treasury pursuant to section 1552 of title 31, United States Code: Provided further, That none of the funds made available for official expenses shall be considered as taxable to the President." -- as printed in the Congressional Record, December 15, 2000 (Vol. 146, No. 155).
A similar increase in presidential salary was rejected by Congress in 1999.
The salary of the vice president also increased to $186,300, up from $175,400.
According to the National Taxpayers Union, former President Clinton will draw an annual pension of around $161,200 and could earn a total record-high pension of over $7 million, should he live to be 80.
Presidential retirement plans are calculated by a formula tied to the salaries of Cabinet Secretaries and start the day they leave office.
Vice President Gore will draw an annual pension of around $94,800 under the Congressional pension plan.
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