In just the 11th veto of his time in office, President Obama on Friday rejected the "Presidential Allowance Modernization Act of 2016," a bill which would have capped former presidents' expense accounts at $200,000 a year and phased out presidential pensions for former executives who independently make at least $400,000 annually.
White House Press Secretary Josh Earnest said the veto was issued out of concern that the bill would "immediately terminate salaries and all benefits to staffers carrying out the official duties of former presidents" and require the government to "immediately terminate leases, and remove furniture."
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