President Obama will give back 5 percent of his salary to the U.S. Treasury in a show of solidarity with federal workers facing furloughs due to “sequester” budget cuts, the White House said Wednesday.
The president’s salary is set by law at $400,000 a year, and he will give back about $20,000 this year. Mr. Obama will write a check to the Treasury Department each month, beginning this month.
The 5 percent cut is the same percentage that non-defense federal agencies were trimmed when the sequester began March 1. The White House has said it will furlough nearly 500 employees in the Office of Management and Budget, but it has not outlined any budget cutbacks in the West Wing among the president’s top staff.
Mr. Obama’s total income according in 2011 was $789,674, according to his tax returns. It included his investments and book sales.
The president’s giveback was first reported by the New York Times.