In the wake of former President Obama accepting $400,000 for a speech on Wall Street, Congress is taking a look at a bill that would curb the pension of former Presidents if they take outside income in excess of $400,000.
Congress had passed a bill that would have accomplished this back in 2016, but President Obama vetoed the bill. At the time, there was no controversy, and the bill easily passed both Houses of Congress. The presidential veto was a surprise to many.
In hindsight, it seems the Mr. Obama already had his sights on big paydays when he left office.
The Obama hypocrisy on this issue is revealing, said Rep. Jason Chaffetz, R-Utah, chairman of the House Oversight and Government Reform Committee and sponsor of the 2016 bill. His veto was very self-serving.
— Rep. Jason Chaffetz (R-Utah) – USA Today
The new bill seems to have bipartisan support in Congress. Rep. Elijah Cummings (D-Md.), the top Democrat on the House Oversight and Government Reform Committee, was a co-sponsor of the 2016 legislation and has said he would support the reintroduction of the bill.
Obama spokesman Kevin Lewis said the former President had no comment on the pending legislation that could cost him his pension.