Obama Promises To Give Back 5 Percent Of Income In A Symbolic Gesture
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(PennStateNews/ Creative Commons)
The President’s symbolic gesture will retroactively take effect on March 1 and will continue through the fiscal year, The New York Times reported.
“The president has decided that to share in the sacrifice being made by public servants across the federal government that are affected by the sequester, he will contribute a portion of his salary back to the Treasury,” The New York Times reported that an official said.
The president of The United States makes a set income of $400,000 annually, which does not include the royalties Obama makes from his book. A 5 percent cut to Obama's salary means he will be giving up approximately $20,000. Since the president’s income is already determined, Obama will write a check to the government.
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