In a testament to transparency, President Joe Biden and First Lady Jill Biden have released their 2023 federal income tax returns, revealing a reported federal adjusted gross income of 9,976. The couple’s tax liability amounted to 6,629, yielding an effective federal income tax rate of 23.7%.
Charitable Contributions and their Belief in Giving Back
The Bidens believe in investing in causes close to their hearts. They made significant contributions to various charities, including the Beau Biden Foundation, which works to protect children from abuse (,000), and other organizations such as St. Joseph on the Brandywine, the Tragedy Assistance Program for Survivors (TAPS), and the National Fraternal Order of Police Foundation.
Vice President Kamala Harris and Second Gentleman Douglas Emhoff’s Returns
Meanwhile, Vice President Kamala Harris and Second Gentleman Douglas Emhoff reported a federal adjusted gross income of 0,299. They paid ,570 in federal income tax with an effective tax rate of 19.7%. Their contributions to charity totaled ,026.
A Legacy of Transparency
The White House, in its statement, highlighted the administration’s commitment to maintaining transparency. President Biden has now made public 26 years of his tax returns, demonstrating his belief that presidential candidates should be open and honest with the American people.
A History of Income Trends
In 2022, the Bidens reported an adjusted gross income of 9,514. Prior to that, in 2021, they earned 0,702, and in 2020, their income was 7,336. It’s noteworthy that their earnings in 2020 saw a decline from the 5,223 reported in 2019.
Delaware and Virginia Tax Returns
Beyond their federal returns, the Bidens also released details of their state income tax payments. In Delaware, they paid ,908, while First Lady Jill Biden paid ,549 in Virginia income tax on income earned through her teaching role at Northern Virginia Community College.
Comparative Analysis
President Biden’s annual salary is set at 0,000. In comparison, Vice President Harris earns 0,700, while the salaries for second gentlemen and first ladies are typically not set at the same level as presidential or vice-presidential salaries. These disclosures provide insights into the financial standing and charitable inclinations of the First Family and the Vice President’s household.
Data sourced from: foxnews.com
