- The prestigious title of president of the United States comes with benefits and perks that are just as luxurious.
- US presidents earn a $400,000 salary while in office, but that's not the only financial perk.
- Presidents also have access to a country home, a personal plane, a helicopter, and a post-presidency pension.
Besides having the most prestigious title in the United States, presidents have several perks that lift a financial burden off their shoulders.
US law requires the president of the United States to be paid a salary while in office. According to Title 3 of the US code, a president earns a $400,000 salary and is still on government payroll after leaving office. The president is also granted a $50,000 annual expense account, $100,000 nontaxable travel account, and $19,000 for entertainment.
While sitting presidents and former presidents receive several perks that last beyond their time in office, like security and health insurance, wardrobe budgets are not included. Presidents and their families usually do not receive or accept clothing as a "gift" from designers, like celebrities on the red carpet. If a piece is accepted as a gift, it is immediately housed in the National Archives after being worn.
Aside from a prestigious title and global recognition, take a look at the financial perks that come with being the most powerful person in the US.
A six-figure salary
USA Today Sports/Reuters
Congress raised the presidential salary from $200,000 to $400,000 in 2001 (plus an extra expense allowance of $50,000 a year). For President Trump, that is a huge decrease from his usual income — he's worth $3.1 billion according to Forbes.
The president also receives a travel budget of $100,000 and a $19,000 allowance for entertainment. While a presidential salary is taxable, the other bonus benefits are not, according to the US tax code.
A famous address
Wikimedia Commons
The White House has housed US presidents since 1792. The estate has six floors and 132 rooms, including a bowling alley and chocolate store, Business Insider's Mark Abadi previously reported. One of the rooms is a fully equipped fitness center with a tennis court and swimming pool.
Redecorating allowance
Handout ./Reuters
Presidents and their families are given $100,000 to redecorate the White House to feel more at home. The Obamas did not accept the allowance to redecorate and used their own funds instead, according to Candace Keener on How Stuff Work's podcast "Stuff You Missed In History Class."
NBC News reported that Trump's administration spent $1.75 million on new furniture, wall coverings, and a desk, though it's unclear if Trump paid out-of-pocket.
See the rest of the story at Business Insider
See Also:
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- From a 58-bedroom estate to a helicopter fleet, here's how the Trump family spends their billions
DON'T MISS: Over 200 years, only 10 people have ever died inside the White House — here's the full list
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