Question: How big is the U.S. president’s expense account?
Answer: It’s $50,000, and was approved by Congress in 1949 in time for Harry Truman’s second term in office. At the same time, Congress also raised the president’s salary from $75,000 to $100,000—today, the presidential salary is $400,000. The salary is taxable, but the $50,000 expense account comes tax-free.
