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Mike Johnson says lawmakers' $174K+ salaries haven't kept up with inflation — they need stock trading for support
Speaker Mike Johnson argues that the stagnant salaries of lawmakers, which have not increased since 2009, necessitate the ability to engage in stock trading for financial support.
Johnson cites that congressional salaries have effectively decreased by about 30% when adjusted for inflation, making it difficult to attract qualified individuals to Congress.
Critics point out that lawmakers' salaries are still significantly higher than the median U.S. household income, and there are existing benefits that supplement their compensation.
Opponents of increasing congressional salaries argue that lawmakers already receive substantial compensation and benefits, and that their financial situation is not as dire as suggested.
Recent discussions revealed that lawmakers almost received a cost of living increase of only 3.8%, which indicates that their salaries are still competitive compared to other federal employees.
However, supporters of salary increases argue that the lack of adjustments since 2009 has led to a significant decrease in real income, which may hinder effective governance.