A pension fund for retired President Michael Dukakis has asked Congress for $200 billion to cover the retirement and health care needs of the country’s next president.
Dukakis’ $2.1 trillion presidential pension fund, the National Institutes of Health, received $100 billion in the 2016 election, and the next president will likely take home a similar amount, according to the Associated Press.
The National Institutes for Health will have to pay $1.5 trillion to help pay for President Donald Trump’s presidency.
The White House said Tuesday that the funds are being used to cover costs of treating veterans, paying for health care and paying for other expenses.
“The National Institute of Health has provided invaluable assistance to President Trump during his time in office and will continue to do so,” White House spokeswoman Jen Psaki said in a statement.
“The President is pleased that the N.I.H. will be contributing its funding to support the President’s agenda.”
In addition to paying for President Trump’s healthcare, the fund will also help cover the costs of the next generation of American families, as well as help offset future expenses.
The N.H.’s director of public affairs, John T. Feltman, said in April that the president’s retirement will require the retirement funds to pay at least $300 billion in health care costs.
“Our goal is to have this fund operational by 2029,” Feltmansaid at the time.
“It is not possible to cover all of the costs and we have a very high priority of ensuring that the country is able to make the investments that are necessary to maintain a secure retirement and to help support our veterans,” he added.
The president is scheduled to leave office on Jan. 20.