Obama delivers on promise to donate $20,000 to the U.S. Treasury
By Jeanne Sahadi @CNNMoneyJuly 1, 2014: 2:44 PM ET
NEW YORK (CNNMoney)
Federal workers faced unpaid furloughs in 2013 as a result of government-wide spending cuts. And in solidarity with them, President Obama has made good on his promise to donate 5% of his salary to the U.S. Treasury.
The Treasury said last Friday that the president had written his last of 7 checks to the "General Fund" as of Sept. 30, 2013, a story first reported by the Wall Street Journal.
The first six checks -- from "B and M Obama" -- were for $2,858 apiece, and the last was for $2,852 for a total donation of $20,000.
The president's annual salary is $400,000.
"The President has decided that to share in the sacrifice being made by public servants ... he will contribute a portion of his salary back to the Treasury," then-White House press secretary Jay Carney said in a statement in April of 2013.
While the money Obama paid to Treasury was marked on his checks as a "donation," he did not take a deduction for it on his 2013 tax return.