- By Sahelee Rakshit
- Tue, 05 Nov 2024 06:16 PM (IST)
- Source:JND
US Presidential Election 2024: As voting commences in New Hampshire, the first state to poll in the US Presidential election on Tuesday, it is to be noted that the 'President' of America is regarded as the most powerful and influential individual. The President of this country serves for four years. According to prior customs, the future President of America will take office on January 20, 2025.
This time around, former President Donald Trump and Indian-origin Kamala Harris are running for office. Having said that, it is interesting to know how much a US president earns. In this article, we will be decoding the earnings of a US president in terms of salary, tax-free expenses and other allowances.
How Much Does A US President Earn?
The highest political office title in the United States is that of a president. According to the seniority of the position, the US president receives an annual salary of $400,000 (3.36 Crore) every year. Each year, the US president receives a $50,000 (Rs 42 lakh) expenditure allowance, a $100,000 (Rs 84 lakh) non-taxable travel account, and $19,000 (Rs 16 lakh) for entertainment.
This totals $569,000 (Rs 4.78 crore) for the US president's yearly expenses. According to American law, any sum not spent from the $50,000 allotment must be returned to the Treasury.
According to Business Insider, US presidents earn $100,000 to remodel the White House after being elected. Nevertheless, a few presidents, including Barack Obama, choose to renovate using their own money rather than using the grant.
The US Congress last raised this yearly wage in 2001, right before George W Bush became president. Notably, under Article II of the Constitution, the president's salary cannot be altered while he is in office.