The Bidens reported paying $146,629 in federal taxes, for an effective tax rate of 23.7%.
Washington:
U.S. President Joe Biden and first lady Jill Biden publicly released their 2023 tax returns on Monday, continuing a tradition of transparency temporarily interrupted under predecessor Donald Trump.
This annual unwritten custom is designed to build trust in the White House. Other politicians and candidates often participate as well.
In 2023, the Bidens earned $619,976, mostly from the president’s $400,000 salary and Jill Biden’s $85,985 salary from teaching at a university in nearby Virginia.
That’s up from the $579,514 the couple earned in 2022 and $610,702 in 2021.
The Biden family’s transparency comes after Trump chose not to follow bipartisan tradition.
Billionaire businessman Trump has refused both as a candidate and since taking office to allow the public to view his tax returns, documents detailing the sources and amounts of all income and other financial records.
After a legal battle waged by Democrats in Congress, several years of his tax returns were eventually released and it was discovered that Trump paid little to no income taxes for several years due to business losses.
He continues to keep his tax returns secret as he launches his campaign to return to the White House in 2024.
The Bidens reported paying $146,629 in federal taxes, for an effective tax rate of 23.7%.
Joe Biden also reported paying $30,908 in Delaware state income taxes, while Jill Biden paid $3,549 in Virginia state income taxes.
“President Biden believes that all occupants of the Oval Office should be open and honest with the American people and that the longstanding tradition of releasing the president’s tax returns each year should continue,” the White House said in a statement.
It is said that this year is the 26th year that Biden has publicly shared tax returns.
The Biden family also announced $20,477 in charitable donations.
Vice President Kamala Harris and husband Doug Emhoff also released their tax returns, showing income of $450,299 and charitable contributions of $23,026.
They paid $88,570 in federal income taxes, in addition to $15,167 in California income taxes and $11,599 in District of Columbia income taxes.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
Follow us on Google news ,Twitter , and Join Whatsapp Group of thelocalreport.in
