Biden's Tax Data, There Are The $620,000 Income, And 23.7% Federal Tax Rate

Biden’s Tax Data, There Are The $620,000 Income, And 23.7% Federal Tax Rate

Washington, D.C. – The combined tax return of President Joe Biden and First Lady Jill Biden, which was made public on Monday in conjunction with the federal tax filing deadline, shows that they reported income of $619,976 and paid $146,629 in federal income taxes in 2023.

At 23.7%, the first couple’s effective federal tax rate was paid.

Throughout his public career, Biden has made his federal tax returns available for 26 years. The Republican front-runner, former president Donald Trump, broke with the bipartisan practice of presidents releasing their federal tax returns, and he is now refusing to do so once more.

“Once again demonstrating his commitment to being transparent with the American people, President Biden has released the most tax returns of any commander-in-chief while in office,” the White House stated in a statement.

“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 annually releasing presidential tax returns should continue unbroken.”

Biden's Tax Data, There Are The $620,000 Income, And 23.7% Federal Tax Rate (1)

On March 18, 2024, in Washington, DC, President Joe Biden and First Lady Jill Biden make remarks at a Women’s History Month reception held in the White House East Room. The Women’s Health Research project is a component of the Biden administration. Using Getty Images, Anna MoneymakerThe combined income of the Bidens in 2023 was $579,514 more than they disclosed in 2022.

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Biden receives a salary of $400k as president. Jill Biden, a teacher at Northern Virginia Community College, disclosed receiving $85,985 from the institution. The increase in income was caused by the Bidens’ receipt of $129,876 in taxable interest, pensions and annuities, Social Security benefits, and IRA distributions—much more than they did in 2022. In addition, Jill Biden disclosed $4,115 in royalties from earlier book releases.

$20,477 in charitable contributions were recorded by the Bidens to 17 organizations, with $5,000 going to the Beau Biden Foundation, which bears the name of their late son.

While Jill Biden reported paying $3,549 in taxes in Virginia, the first couple also paid $30,908 in income tax in Delaware.

Vice President Kamala Harris and Second Gentleman Doug Emhoff, on the other hand, stated that they earned $450,299 in income in 2023 and paid $88,570 in federal income tax, or an effective federal tax rate of 19.7%. The second pair claimed to have given $23,026 to charitable organizations.

While Trump has not made his prior tax returns publicly available, House Democrats did so in 2022 after obtaining access to six years of his tax returns from 2015 to 2020, while he was both president and running for office.

When asked whether Trump will reveal his 2023 tax returns to the public, campaign spokesperson Karoline Leavitt responded in a statement, saying, “President Trump has released more information to the American public about his finances than any candidate in history.”

The IRS “illegally leaked” Trump’s prior tax returns, Leavitt continued, and “his successful family business has been the target of endless investigations led by Joe Biden and Democrat prosecutors.”

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