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Bidens release tax return that shows they made almost $620,000 in 2023

<i>Eduardo Munoz/Reuters via CNN Newsource</i><br/>U.S. President Joe Biden and U.S. first lady Jill Biden greet people as they attend a campaign event at Montgomery County Community College
Eduardo Munoz/Reuters via CNN Newsource
U.S. President Joe Biden and U.S. first lady Jill Biden greet people as they attend a campaign event at Montgomery County Community College

By Michael Williams, CNN

Washington (CNN) — President Joe Biden and first lady Dr. Jill Biden earned $619,976 in 2023, according to their joint tax return released by the White House on Monday – the deadline date for Americans to file their taxes.

The White House also released the return for Vice President Kamala Harris and second gentleman Doug Emhoff, showing that pair made $450,299 last year.

“President Biden believes that all occupants of the Oval Office should be open and honest with the American people,” the White House said in a statement on Monday, “and that the longstanding tradition of annually releasing presidential tax returns should continue unbroken.”

That statement could be seen as a dig at former President Donald Trump, who declined to voluntarily release his tax returns while he was president. Six years of Trump’s tax returns, including from his time as president, were released to the public by the House Ways and Means Committee at the end of 2022.

The bulk of the Bidens’ income came from President Biden’s congressionally mandated $400,000 salary, along with pensions. The first lady also earned $85,985 from her position as a teacher at Northern Virginia Community College.

The Bidens paid $146,629 in federal income tax in 2023, making their federal income tax rate 23.7%. They reported $20,477 worth of contributions to 17 different charities in 2023. They donated $5,000 to the Beau Biden Foundation, which works to protect children from abuse and is named after the president’s late son, and smaller amounts to organizations including the Fraternal Order of Police, a Wilmington fire station and St. Joseph on the Brandywine.

The Bidens attend that church regularly and it is where Beau Biden is buried, along with Neilia Biden and Naomi Biden, the president’s first wife and infant daughter who were killed in a 1972 car crash.

Harris and Emhoff paid $88,570 in federal income tax, amounting to a 2023 rate of 19.7%. The pair contributed $23,026 to charity in 2023, including donations to the DC Central Kitchen, Howard University and the University of Southern California.

The Bidens have released 26 years of tax returns in total. Harris has released 20 years’ worth.

The Bidens’ 2023 income was an increase from the $579,514 the couple earned in 2022. The Bidens reported an income of $610,702 in 2021 and $607,336 in 2020.

Harris and Emhoff reported an income of $456,918 in 2022 and $1.6 million in 2021 – the year they sold a house.

The current first couple restarted the tradition of the first family releasing their tax returns upon taking office in 2021.

This story has been updated with additional reporting.

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Article Topic Follows: CNN - US Politics

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