Today, Congressman Steve Israel (D-Huntington) introduced legislation that would prevent a former Member of Congress receiving compensation as a highly-paid lobbyist of a million dollars or more from concurrently receiving a federal pension funded by American taxpayers.
Rep. Israel said, "During these tough economic times in which governments everywhere are stretching budgets and trying to do more with less, the last people who should be receiving federal pensions are former Members of Congress who are now millionaire lobbyists. My legislation will make sure that taxpayer funds are spent effectively on job-creating priorities and not supporting millionaires."
The Revolving Door Pension Prevention Act, H.R. 2594, would ensure that former Members of Congress who are currently lobbyists earning an annual income from lobbying activities that exceed $1 million per year cannot also receive their federal pension. This legislation comes in the wake of a National Journal report that nearly one in five current Members of Congress draw government pensions in addition to their Congressional salaries.