President Joe Biden and his wife, Jill, paid $137,658 in federal income taxes. They declared $579,514 to be their joint income. The taxes they paid works out to be a 23.8 per cent tax rate, more than the average of roughly 14 per cent for all US households.
The tax release comes ahead of Joe Biden seeking a second term in the 2024 elections. As per the US Census Bureau, the Bidens' earnings have trended slightly downward over the past three years-- it was averaging more than $600,000 in 2020 and 2021.
The White House on Tuesday also released the tax returns of Vice President Kamala Harris and her husband, Doug Emhoff. This once routine rite of passage for presidents and aspirants to the Oval Office became a source of controversy under Biden's predecessor, Donald Trump, who declined to release his taxes and ultimately had six years' worth of returns released last year by a House committee.
In 2019, the couple earned $1 million jointly-- the income mainly came from book sales and speeches; and from Jill Biden teaching at Northern Virginia Community College and Joe Biden's stint as an honorary professor at the University of Pennsylvania.
The White House on Tuesday also released the tax returns of Vice President Kamala Harris and her husband, Doug Emhoff. The filings showed them earning $456,918 and having paid $93,570 in income tax.
The Bidens gave $20,180 to 20 different charities. Biden campaigned on the transparency of his finances, releasing 22 years of tax filings ahead of the 2020 election.
It has been routine for presidents and aspirants to the Oval Office to reveal their income tax filings. Former president Donald Trump, however, declined to release his taxes and ultimately a House committee released six years' worth of Trump's returns.
--With PTI inputs
