It’s no secret that times are tough for many Long Islanders. And while families across New York struggle to make ends meet, many former Members of Congress are earning millions as high-powered lobbyists – while, at the same time, earning a taxpayer-funded retirement pension. That is unacceptable especially as estimates show taxpayers pay roughly $25 million annually in pensions for former Members of Congress.
After serving in Congress for five years, Members are eligible to receive a benefit at retirement age. But, if you ask me, the taxpayer shouldn’t be subsidizing the retirement costs of former Members of Congress who are working as millionaire lobbyists.
That’s why I’ve introduced the Congressional Double Dipping Pension Prevention Act. My bill would prohibit former Members of Congress who become lobbyists and earn more than a million dollars a year from receiving their congressional pension.
Taxpayers are having a hard enough time paying their bills with their salary or their own pensions without having to worry about paying for millionaires too. In tough economic times such as these, we need to find ways to make our government more efficient. Common sense cuts must include former Members of Congress turned-lobbyists who need to make sacrifices alongside their former constituents.