When presidents leave the White House, the next chapter of their life begins, that of a former president. Americans don't have a problem with things like lifetime Secret Service protection for former presidents and their families; that is necessary. But in the modern era, former commanders-in-chief have a vast array of income streams to choose from. Again, no problem — people want to hear about their experiences in the White House. But if former presidents have the means to support themselves, how much of their post-presidential lives should taxpayers be on the hook for?

DID YOU KNOW?

When Harry Truman 🇺🇸 left office in 1953 his only income was a small Army pension - $111.96/month

Presidential pensions were not a thing until 1958

NOW YOU KNOW!#POTUS 🤯 pic.twitter.com/FEFBX9wnqy

— Presidential Wisdom (@PrezWisdom) May 22, 2024

But in the spirit of DOGE, if a new bill introduced by Sen. Joni Ernst (R-IA) becomes law, that could change. On Monday, Ernst introduced the "Presidential Allowance Modernization Act." If passed, former presidents would receive a pension of $200,000 per year and a $200,000 allowance per year with a yearly cost of living adjustment. However, that allowance would be reduced if a former president earns $400,000 per year. The legislation also includes the spouses of former presidents. Currently, spouses receive a yearly pension of $20,000. That would increase to $100,000 per year. Ernst stated the obvious about the proposed bill, saying:

“From speaking gigs to Netflix deals and much more, former presidents have been raking in the dough. Americans should not be on the hook to support those who clearly are having no issues supporting themselves. This commonsense bill flips Washington on its head by finally prioritizing taxpayers over politicians.”

READ MORE: Barack Obama Weighs in on Biden's Delusional Farewell Speech - and It's Just As Delusional

Under current law, a former president receives a pension the equivalent of a Cabinet secretary, which is $246,424. They are also given an office allowance of $115,000 per year to pay any staff for the first two years of their post-presidency. That amount then reduces to $96,000 per year, even without taxpayer dollars.

Rest in peace, Jimmy Carter. Among recent presidents, he stood out for spending far less taxpayer money on his post-presidential office. https://t.co/pBTOneF9hK"

— Demian Brady (@demianbrady) December 30, 2024

But all of those speaking engagements, book deals, and foundations turn out to be incredibly lucrative, leaving all four living former presidents not hurting for cash. Former President George W. Bush's net worth sits at around $40 million, making him the pauper of the group. Former President Barack Obama has a net worth of roughly $70 million, and former President Bill Clinton rounds out the group at $120 million. Joe Biden's post-presidency is also well-funded. Also, let's not forget that, like every other American who has paid into the system, former presidents are also entitled to Social Security.  

Sen. Ernst's best example of former presidents living high on the taxpayer hog is the Obamas. She cited their highly profitable deal with Netflix to produce content and a $65 million book deal with Penguin Random House publishers. This is not Ernst's first attempt to rein in the post-presidential gravy train. She introduced a similar bill in 2016, which passed both the House and the Senate. Ironically, it was vetoed by Obama. 

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But in 2025, in the current climate of slashing government waste, fraud, and abuse, Sen. Ernst's bill may have a much easier time in a GOP-controlled House and Senate and with Donald Trump in the Oval Office. Aside from the exclusive club of former presidents, those who have greatly benefited financially by working for the federal government are something that has also gotten the attention of Elon Musk and DOGE. Exactly how are people who make $174,000 a year becoming millionaires? Certainly, taxpayers would like to know.

If Sen. Ernst's bill passes, somehow, former presidents will have to get by with fewer contributions from hard-working Americans.

In a recent Gallup survey of adults living in the U.S., former President Joe Biden earned the lowest favorability and the highest unfavorability of all five living presidents https://t.co/qYYOoV9c1u

— Alex Nitzberg (@alexnitzberg) February 11, 2025