How much does the President of the United States earn? Here’s how much the White House occupant earns and what benefits he enjoys.
How much does the president of the United States earn? This is no small question, considering we’re talking about the person considered the most "powerful" in the world, given the economic and political weight of the United States.
Now that Donald Trump—a businessman who has long been "lent" to politics—has returned to the White House, the United States has once again become a magnet for attention, both economically—see tariffs—and geopolitically.
Looking at the G20 countries, despite this highly important role, the president of the United States is not the highest-earning among his colleagues.
Let’s take a look at the salaries of the president of the United States and his vice president, to understand in detail how much they earn and what privileges they are entitled to.
How Much Does the President of the United States Make: Salary
The salary of the President of the United States of America is $400,000 per year, plus an expense allowance of $50,000. For comparison, the Italian Prime Minister receives 80,000 euros net per year, while the Italian President of the Republic receives 239,000 euros gross per year.
In addition to his salary, the president is granted a $50,000 expense account, a $100,000 travel account that is non-taxable, and an entertainment allowance of $19,000. These expenses must be incurred as part of official duties, and any unused amounts are returned to the United States Treasury.
These aren’t the only benefits of the President of the United States, who also enjoys:
- Air Force One - The presidential plane is a sort of flying fortress, with a crew of 26. The annual cost of AF1 is around millions of dollars.
- Security - The President has a motorcade (and a limousine, which is a fortress on wheels), logistics and security personnel, and Secret Service protection. Foreign trips can require thousands of security personnel.
- White House - The incumbent president lives in the White House, a residence that requires millions of dollars in expenses each year. Note: Groceries are not included. The president pays for food, dry cleaning, and even waiters for all private meals/events.
- Staff - Even excluding security personnel, millions are spent on salaries for House staff members, including kitchen staff, medical staff, and many others.
- Entertainment/Free Time - Sitting presidents receive countless invitations to galas, state dinners, and other events. They are also allowed to use Camp David, the presidential residence, for vacations. President Obama converted the White House tennis court into a basketball court.
The issue of pension is also not to be underestimated. After leaving office, the president of the United States receives a pension set at a Level I salary on the U.S. Executive Schedule ($203,700 per year in 2015), according to the Former Presidents Act.
In addition to the pension, the costs of administrative staff and permanent protection by the Secret Service are covered.
The income for former US presidents thus does not end with the end of their term: they are provided a pension and other variable financial compensation. The total spending dedicated to former presidents to date amounts to approximately $4 million per year.
Aside from the benefits they enjoy, first ladies are not entitled to any direct salary.
Why does the president of the United States receive a salary?
The US Constitution provides that the president receives a salary for his work. The Founding Fathers wanted to protect future presidents from the temptation of corruption and allow anyone who met the requirements, even without a reliable source of income, to become president of the United States without the lack of a salary influencing their choice.
US Presidents Who Have Refused Their Salaries
Receiving a salary as President of the United States is certainly not a requirement. In fact, four presidents throughout history have refused to receive it, donating it in whole or in part.
1) Donald J. Trump
The current president of the United States refused to take his annual salary of $400,000 during his first term. Instead, he decided to donate it to various federal departments between 2017 and 2020.
2) John F. Kennedy
Kennedy donated his then-$100,000 annual salary to charity. He did the same throughout his 14-year political career in the U.S. Congress.
3) Herbert Hoover
Hoover, on the other hand, divided his salary as president of the United States between various charities and his staff. His net worth at the time (1923) was approximately $4 million, equivalent to about $105 million today.
4) George Washington
The first president of the United States decided to donate his salary, then $25,000 a year, using only a portion to reimburse travel expenses. He traveled in a special carriage that was safe for traveling on Southern roads.
Salary of the Vice President of the United States
And how much does the Vice President of the United States earn? He receives the same salary as the Chief Justice of the United States and the Speaker of the House of Representatives, namely $215,548.
Salary is a right protected by the Ethics Reform Act signed into law in 1989. The vice president receives an annual adjustment based on changes in the cost of living.
The pension as a former vice president is calculated like that of other members of Congress. Former vice presidents and their families are entitled to Secret Service protection for six months after leaving office, and temporarily at any time thereafter, if warranted.
Original article published on Money.it Italy. Original title: Quanto guadagna il presidente degli Stati Uniti? Stipendio e benefit dell’uomo più potente al mondo
