Bidens Reveal $620K Income in 2023 Tax Returns
US President Joe Biden and First Lady Jill Biden disclosed their 2023 tax return, revealing an income of $619,976. The earnings were primarily from President Biden's $400,000 salary and the First Lady's $85,985 income as a college teacher in Virginia. The couple paid $146,629 in federal taxes, which amounts to an effective tax rate of 23.7%. They also reported $20,477 in charitable contributions.
The release of the tax returns continues a longstanding tradition of transparency aimed at fostering trust in the presidency, a practice that was notably not followed by former President Donald Trump, who did not release his tax returns during his candidacy or presidency. Vice President Kamala Harris and her husband Doug Emhoff also released their tax returns, showing an income of $450,299 and charitable donations of $23,026.
The Bidens' financial disclosure comes at a time when President Biden is campaigning for re-election in 2024. This year marks the 26th year that Biden has made his tax returns public. The tradition is seen as a measure of integrity and honesty expected of those who hold the Oval Office.
