US President Joe Biden and his wife Jill Biden released their federal tax return which showed that the couple earned almost $580,000 last year and paid an effective federal income tax rate of 23.8%. They donated roughly 3.5% of their income to 20 charities. The release of tax returns comes ahead of a 2024 presidential race in which Joe Biden is expected to seek a second term.
The Bidens reported adjusted gross income of $579,514 and paid $137,658 in federal income tax. Joe Biden’s salary as US President is $400,000 while Jill Biden earned $82,335 from her job at Northern Virginia Community College. Rest of the couple’s income came from investment interest, pensions, annuities and distributions from retirement accounts, the joint tax return showed.
Their donations included contributions to churches and organizations focused on helping children and first responders.
US Vice President Kamala Harris and her husband Doug Emhoff also released their tax returns. The couple reported federal adjusted gross income of $456,918. They paid $93,570 in federal income tax for a federal income tax rate of 20.5%.
The income included $219,171 in salary paid to Kamala Harris as the US Vice President and $62,870 from her books. Doug Emhoff earned $169,665 earned for teaching at Georgetown University Law Center. The couple contributed roughly 5% of their income to charity, the joint return showed.
