US law requires the president of the United States to be paid a salary while in office. According to Title 3 of the US code, a president earns a $400,000 salary and is still on government payroll after leaving office. The president is also granted a $50,000 annual expense account, $100,000 nontaxable travel account, and $19,000 for entertainment.
Congress raised the presidential salary from $200,000 to $400,000 in 2001 (plus an extra expense allowance of $50,000 a year). For President Trump, that is a huge decrease from his usual income — he’s worth $3.1 billion according to Forbes.
The president also receives a travel budget of $100,000 and a $19,000 allowance for entertainment. While a presidential salary is taxable, the other bonus benefits are not, according to the US tax code.
Presidents and their families are given $100,000 to redecorate the White House to feel more at home. The Obamas did not accept the allowance to redecorate and used their own funds instead, according to Candace Keener on How Stuff Work’s podcast “Stuff You Missed In History Class.”
NBC News reported that Trump’s administration spent $1.75 million on new furniture, wall coverings, and a desk, though it’s unclear if Trump paid out-of-pocket.
Credit : Business Insider
Picture Credit : Google
