How much money do U.S. House members make?

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How much money do U.S. House members make?

Serving in the U.S. House of Representatives comes with a six-figure salary, along with

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including paid 

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costs.

While the

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annual pay likely doesn’t sound too shabby to those living in a country where the median individual wage comes to just over

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a year, members of Congress are earning wages that were set in 2009. They haven’t gotten an automatic cost-of-living adjustment since 2009.

In getting elected as Speaker of the House in October of 2023, Louisiana *********** Mike Johnson’s annual salary jumped to $223,500. Louisiana *********** Steve Scalise and New York Democrat Hakeem Jeffries each make $193,4000 a year as the House majority and ********* leaders, respectively. 

Members of Congress are not allowed to continue in their prior jobs while working on Capitol Hill, although their net worth continues to increase through investments. Indeed, many Washington, D.C., lawmakers were 

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millionaires when they began their political careers, especially in the Senate.

The races that could decide control of Congress

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Although pensions are increasingly uncommon for most ********* workers, the perk is alive and well for lawmakers. Since 1946, members of Congress with at least five years of service or federal employment are eligible for “a generous pension that pays two to three times more than pensions offered to similarly salaried workers in the private sector,” according to the National Taxpayers Union Foundation. 

The value of the pension benefit is determined based on when a lawmakers was elected to office, time served and the average of the three years of their highest salary, noted NTUF, an affiliate of the National Taxpayers Union. 

A lesser-known congressional benefit is the practice of leaving ****** gratuity payments to the heirs of members who **** while serving in office. Equal to the member’s yearly congressional salary, the payments are provided regardless of how wealthy the deceased lawmaker was. From 2000 to 2021, the payments have

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taxpayers $5 million, the nonprofit research group found.

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Kate Gibson

Kate Gibson is a reporter for CBS MoneyWatch in New York, where she covers business and consumer finance.

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#money #U.S #House #members

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