The U.S. president hasn't been fixed a raise successful much than 20 years.
That intends Kamala Harris aliases Donald Trump will gain nan aforesaid net arsenic their predecessor: $400,000 a year, arsenic specified successful Title 3 of nan U.S. Code, paid monthly. The president besides gets an further $50,000 for expenses (non-taxable), a $100,000 recreation relationship and a $19,000 intermezo budget.
Of course, nan nation's commandant successful main is besides entitled to different benefits, not slightest of which is simply a paid-for mansion known arsenic nan White House, arsenic a residence.
Between 1969 and 2001, nan past clip Congress boosted nan main executive's pay, nan president earned $200,000 annually. In a 1999 hearing connected nan projected salary raise, it was noted that compensation for "one of nan astir difficult, demanding and important jobs connected nan look of nan earth" had not risen successful 3 decades, while nan salaries of private-sector main executive officers were soaring.
Government betterment master Paul C. Light testified that he supported a statesmanlike net summation "if only to awesome that nan American governmental strategy values its main executive capable to occasionally boost nan guidelines salary."
How overmuch did U.S. presidents gain successful nan past?
Historically, nan president's yearly net was worthy a batch much erstwhile taking ostentation into account.
Here's what presidents made per twelvemonth during erstwhile humanities periods, according to nan University of Michigan, citing Congressional Quarterly's "Guide to nan Presidency." How overmuch that salary is worthy successful today's dollars, aft adjusting for ostentation and based connected calculations from Officialdata.org, is noted successful parentheses:
1789: $25,000 ($895,741)
1873: $50,000 ($1.3 million)
1909: $75,000 ($2.6 million)
1949: $100,000 (plus $50,000 taxable disbursal account) ($1.3 million)
1969: $200,000 (plus $50,000 taxable disbursal account) ($1.7 million)
More money successful memoirs
It's worthy noting that presidents stay connected nan national government's payroll aft leaving The White House too. Since 1958, erstwhile presidents person earned an yearly pension, which now amounts to much than $200,000. They besides get agency abstraction successful a spot of their choosing and recreation expenses, according to nan Former Presidents Act of 1958.
U.S. presidents besides typically gain overmuch much money erstwhile they time off agency done book sales, speaking engagements, media deals and different lucrative endeavors.
Ulysses S. Grant was nan first U.S. president to constitute a memoir, which he famously vanished only days earlier his decease successful 1885. Virtually each modern president, pinch nan objection of Franklin Delano Roosevelt and John F. Kennedy, some of whom died while successful office, has written a memoir.
"It's wherever a batch of money comes from aft they person been president," Barbara Perry, co-chair of nan Presidential Oral History Program astatine nan Miller Center astatine nan University of Virginia, told CBS MoneyWatch. "Written memoirs person earned them millions."
Megan Cerullo
Megan Cerullo is simply a New York-based newsman for CBS MoneyWatch covering mini business, workplace, wellness care, user spending and individual finance topics. She regularly appears connected CBS News 24/7 to talk her reporting.