President Biden and first lady Jill Biden have released their 2023 federal income tax returns, showing a federal adjusted gross income of $619,976. The couple filed jointly and paid $146,629 in federal income tax, resulting in an effective federal income tax rate of 23.7%. Additionally, they reported paying $30,908 in Delaware income tax and $3,549 in Virginia income tax from Jill Biden's teaching income at Northern Virginia Community College.
It is noted that the president's annual salary is $400,000. The Bidens have a history of fluctuating income, with reported federal adjusted gross incomes of $579,514 in 2022, $610,702 in 2021, and $607,336 in 2020. In 2019, their income was reported at $985,223.
Furthermore, the couple made charitable contributions totaling $20,477 to 17 different organizations, including the Beau Biden Foundation, 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 reported a federal adjusted gross income of $450,299 for 2023. They paid $88,570 in federal income tax, with a federal income tax rate of 19.7%. Harris and Emhoff also paid $15,167 in California income tax and $11,599 in District of Columbia income tax. Their charitable contributions for the year amounted to $23,026.
The White House emphasized the administration's commitment to transparency, stating that President Biden has shared 26 years of tax returns with the public. The release of the tax returns is seen as a continuation of the bipartisan tradition of presidential tax transparency, with the White House advocating for the annual disclosure of presidential tax returns to remain a longstanding practice.
