[Congressional Record Volume 143, Number 98 (Friday, July 11, 1997)]
[House]
[Page H5135]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                         FAMILY ECONOMIC INCOME

  (Mr. BALLENGER asked and was given permission to address the House 
for 1 minute.)
  Mr. BALLENGER. Mr. Speaker, ever wonder what the Family Economic 
Income of the President is? Let us see. The President's salary is about 
$200,000 a year. But then the Treasury Department's calculates his 
income is actually a lot more than that, even if it is not.

                              {time}  0945

  For example, they say we need to add something called imputed rental 
income to real income. Imputed rental income is income we would get if 
we rented out the house that we own.
  Now normally the Treasury Department would add something like $10,000 
to the President's income for renting out the White House and carrying 
that as income, but the Treasury Department officials are not so sure 
what to do now since they know that the Lincoln bedroom can be rented 
out for over $400,000 a year, so they are really not sure how to score 
it.
  And then they have other problems as well. They have not a clue as to 
how much to score the President's Whitewater property for imputed 
income purposes, and then there is the huge question mark about how 
much foreign money should go under unreported and underreported income 
category.
  I guess the Treasury Department needs to take another look at this 
family income economic income.

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