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Posted: 6/29/2003 10:52:55 AM EDT
Does anybody know how much $$$ a Congressman makes? A Senator? Are they exempt from taxes too?
Link Posted: 6/29/2003 11:02:36 AM EDT
At least $100k
Link Posted: 6/29/2003 11:09:06 AM EDT
Originally Posted By raven: At least $100k
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excluding 'commission'
Link Posted: 6/29/2003 11:24:45 AM EDT
I don't think the pay is as significant as the pension.
Link Posted: 6/29/2003 11:28:20 AM EDT
Enough to put them in the top 5% of the population. Ever wonder why all the laws are geared to the well off?
Link Posted: 6/29/2003 11:30:46 AM EDT
http://usgovinfo.about.com/library/weekly/aa031200a.htm Congress: Rank-and-File Members' Salary In December, 2001, Congress voted not to block a scheduled pay increase raising the annual salary for a rank-and-file Senator or Representative by $4,900 to $150,000 per year. This increase, the third in the last four years, goes into effect on Jan. 1, 2002. Since 1990, congressional pay has increased from $98,400 to $150,000. • Members of Congress are also allowed to make an additional maximum 15 percent of their salary from outside sources, like speaking, legal practice and consulting. In addition, they are allowed unlimited income from book royalties. • Members are free to turn down pay increase and some choose to do so. • In a complex system of calculations, administered by the Office of Personnel Management, congressional pay rates also affect the salaries for federal judges and other senior government officials. • During the Constitutional Convention, Benjamin Franklin considered proposing that elected government officials not be paid for their service. Other Founding Fathers, however, decided otherwise. • From 1789 to 1815, members of Congress received only a per diem (daily payment) of $6.00 while in session. Members began receiving an annual salary in 1815, when they were paid $1,500 per year. Congress: Leadership Members' Salary (108th Congress) Leaders of the House and Senate are paid a higher salary than rank-and-file members. Senate Leadership Majority Leader - $161,200 (Sen. Bill Frist) Minority Leader - $161,200 (Sen. Thomas Daschle) House Leadership Speaker of the House - $186,300 (Rep. Dennis Hastert) Majority Leader - $161,200 (Rep. Dick Armey) Minority Leader - $161,200 (Rep. Nancy Pelosi) • The same rules of income from outside sources apply to both leadership and rank-and-file Members of Congress. Congress: Raises • A cost-of-living-adjustment (COLA) increase takes effect annually unless Congress vote to not accept it. Congress: Benefits Members of Congress receive retirement and health benefits under the same plans available to other federal employees. They become vested after five years of full participation. • Members elected since 1984 are covered by the Federal Employees' Retirement System (FERS). Those elected prior to 1984 were covered by the Civil Service Retirement System (CSRS). In 1984 all members were given the option of remaining with CSRS or switching to FERS. • As it is for all other federal employees, congressional retirement is funded through taxes and the participants' contributions. Members of Congress under FERS contribute 1.3 percent of their salary into the FERS retirement plan and pay 6.2 percent of their salary in Social Security taxes.
Link Posted: 6/29/2003 1:09:54 PM EDT
Hey thanks, greenmountain. Thats really been buggin me.
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