The President of the US is the very best political workplace title one can have in America. However how a lot does the president truly make? It’s possible you’ll be shocked by the quantity.
Former Vice President Joe Biden was elected because the forty sixth president of the US on November 7, 2020, after a win in swing states, equivalent to Nevada and Pennsylvania. His operating mate, former Senator Kamala Harris of California, was additionally elected because the forty ninth Vice President of the US and have become the primary girl to carry the title. The Democratic crew beat former President Donald Trump and Vice President Mike Pence to win the 2020 election. Biden and Harris took oath of workplace as the following POTUS and VPOTUS on Inauguration Day on Jaunuary 20, 2021.
Like most U.S. federal authorities jobs, the president does obtain a wage, which signifies that Biden is paid for his job because the commander-in-chief and because the head of presidency. However Individuals could also be shocked at how a lot the president will get paid annually—at the very least, in comparison with somebody just like the Queen of England. Examine how a lot the president earns forward.
How a lot does the president make?
Based on 3 U.S. Code § 102, the president of the US makes $400,000 per 12 months. The president additionally receives a $50,000 expense allowance, a $100,000 non-taxable journey account and $19,000 for leisure annually. (Per the code, any unused quantity from the $50,000 expense allowance should even be returned to the treasury.) In complete, this equals to $569,000 for all the president’s bills annually. (The First Girl, however, doesn’t make any cash.) Since George Washington grew to become the primary president of the US in 1789, there have been 5 wage will increase for the commander-in-chief. The newest was in 2001 when the wage doubled from $200,000 to $400,000. Washington, for his half, made $25,000 per 12 months, which equals to $600,000 at the moment after factoring in inflation.
Although a wage is obtainable to the president, not all commanders-in-chief have accepted. Based on Politico, Herbert Hoover, the thirty first president, was the primary president to refuse his wage when he was elected in 1917. He as a substitute donated it to charity. John F. Kennedy, the thirty fifth president, additionally refused his wage when he was elected in 1961. Per Politico, he rejected each his congressional wage when he was a member of the Home of Representatives and his presidential wage as POTUS. He did, nonetheless, hold his $50,000 expense allowance. Like Hoover, Kennedy donated his presidential wage to numerous charities.
Biden’s further revenue for 2024 was drawn from curiosity on investments, pensions, and a company entity that collects the couple’s guide royalties.
What are different presidential perks?
Together with their wage, the president additionally receives quite a few perks as POTUS. The primary is free transportation within the presidential limousine, Marine One, and Air Power One. Presidents additionally, after all, obtain free housing within the White Home. On the finish of their phrases, presidents stay on the federal government payroll, which incorporates an annual pension of about $200,000, healthcare, paid official journey and an workplace, based on Enterprise Insider.
Per Enterprise Insider, presidents additionally obtain $100,000 to redecorate the White Home as soon as they’re elected. (A number of presidents, equivalent to Barack Obama, selected to to not use the cash and used their very own funds to redecorate as a substitute.) On the meals aspect, the president additionally has entry to the White Home’s contemporary fruits and vegetable backyard, in addition to has meals created by an govt chef and an govt pastry chef. There are additionally greater than 100 everlasting residents within the White Home, together with maids, cooks, a plumber, a florist and a head housekeeper, based on Enterprise Insider. Contained in the White Home, there’s additionally a film theatre and a bowling alley.
So, whereas the president isn’t making thousands and thousands of {dollars} annually, like, say, the Kardashians, it appears they’ve every part they want within the White Home, plus a couple of hundred hundreds of {dollars} of spending cash. Based on Forbes, Biden’s web price is $10 million, which incorporates the cash he’s made as a senator, vp, and now president. The sum additionally consists of the six-figure guide offers he’s been paid up to now. Not dangerous.
