- Report suggests Biden and his wife made $607,336 as the former ran for president
- They earned $610,702 in their first year in the White House
- Vice President Kamala Harris and her husband Doug Emhoff earned $1,655,563 in 2021
In their first year in the White House, US President Joe Biden and his wife Jill paid $150,439 in federal income tax, a tax rate of 24.6% for 2021, well above above the average of about 14% for all Americans. The totals were similar to the Bidens’ statements in 2020 when they declared a federal income tax rate of 25.9% at the time. It’s the second year in a row that Biden has released his White House tax returns, reestablishing a tradition of presidents making their returns public after President Donald Trump refused to do so.
A report suggests Biden and his wife earned $607,336 as the former ran for president. They earned $610,702 in their first year in the White House. In 2020, the national median household income was $67,521 in 2020, according to US Census data.
This year and last were steep declines from 2019 for the Bidens, when they earned nearly $1 million, mostly from book sales, speeches and their teaching jobs at the University of Pennsylvania and Northern Virginia Community College.
Jill Biden still teaches in Virginia while serving as first lady.
Returns show Biden earning $378,333 as president — his annual salary of $400,000 minus the time before noon on Inauguration Day Jan. 20, 2021 — and his wife receiving $67,116 for her education.
The couple donated $17,394 to 10 different charities in 2021.
The largest donation was $5,000 to the Beau Biden Foundation, a nonprofit that fights child abuse named after their son, Beau, who died of brain cancer in 2015 at age 46 years old.
The Bidens also released their 2021 Delaware tax return and said they paid $30,765 in state income tax there. The first lady released a statement from Virginia showing she had paid $2,721 in Virginia state income tax.
Meanwhile, Vice President Kamala Harris and her husband, Doug Emhoff, released their 2021 tax returns, which showed they earned $1,655,563 in 2021 and paid $523,371 – a federal tax rate on income of 31.6%.
Harris and Emhoff also paid $120,517 in California income tax and $2,044 in New York income tax.
The second gentleman, who teaches at Georgetown Law School, paid $54,441 in District of Columbia income tax, and the couple donated $22,100 to charity in 2021.
Biden has campaigned on transparency about his personal finances, releasing 22 years of tax filings ahead of the 2020 election.
It was a direct challenge to Trump, who for years argued that an audit had prevented him from releasing his taxes — despite the IRS mandating for more than four decades that the tax returns of presidents and vice-presidents sitting presidents are audited.
The New York Times later obtained Trump’s tax records and reported that he paid just $750 in federal income tax during his first year in the White House.
IRS figures show the average filer paid about $12,200 in 2017, about 16 times what the former president paid.
The returns were released on April 15, traditionally the deadline for paying federal taxes.
(With AP inputs)
Read also | Video: Joe Biden’s “ghostly” handshake with no one! Twitter has a field day
latest world news