Cheney took in $178,437 from Halliburton in 2003
Tuesday April 13, 2004 4:40 pm ET
By Steve Holland###
WASHINGTON, April 13 (Summary of Reuters Article) - Government disclosure forms show that Dick Cheney received $178,437 in deferred compensation from Halliburton in 2003. Cheney's office said the income from Halliburton is not linked to the financial health of the company. The deferred salary is based on a 1998 agreement in which Cheney elected to defer compensation earned in 1999 for his employment as CEO of Halliburton. This deferred salary is paid in annual installments, with interest, over the five years after Cheney's retirement from Halliburton. Cheney's taxable income was $813,226 for 2003. He paid $258,779 in taxes in withholding and estimated tax payments, but owed just $253,067. He was eligible for a $5,712 refund but elected to apply it to his 2004 taxes. Cheney received $198,600 in salary for his job as vice president. George W. Bush's taxable income for 2003 was $727,083, after deductions of $95,043. The income included Bush's salary earned as president -- $397,264 -- and investment income from trusts. Bush paid $227,490 in federal income taxes and contributed $68,360 to churches and charitable organizations. Sen. Frank Lautenberg (D-NJ) complained that Cheney is "still getting paychecks from Halliburton" and is therefore a conflict of interest with his duties as vice president. "That's wrong," he said. "Dick Cheney is being paid almost the same amount by Halliburton as he is making as vice president of the United States," he said.