President Joe Biden and first lady Dr. Jill Biden released their joint tax return for 2023, showing they earned $619,976. Vice President Kamala Harris and second gentleman Doug Emhoff also released their tax return, revealing an income of $450,299. The White House emphasized the importance of transparency by continuing the tradition of releasing presidential tax returns annually, taking a subtle jab at former President Donald Trump, who did not release his tax returns voluntarily while in office.
The majority of the Bidens’ income came from President Biden’s $400,000 salary and pensions, with Dr. Biden earning $85,985 from her teaching position at Northern Virginia Community College. The couple reported paying $146,629 in federal income tax in 2023, with a tax rate of 23.7%. They also made charitable contributions totaling $20,477 to various organizations, including the Beau Biden Foundation, which aims to protect children from abuse, along with donations to the Fraternal Order of Police and other causes.
Harris and Emhoff paid $88,570 in federal income tax in 2023, with a tax rate of 19.7%. They made charitable contributions of $23,026 to organizations such as the DC Central Kitchen, Howard University, and the University of Southern California. Both couples have a history of releasing their tax returns, with the Bidens sharing 26 years of returns and Harris disclosing 20 years of returns.
The income of the Bidens and Harris-Emhoff couples varied over the years, with the Bidens earning $579,514 in 2022, $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, when they sold a house. The release of the tax returns marks a commitment to transparency and openness, with the current first family reviving the tradition of sharing their financial information upon taking office in 2021.
Overall, the tax returns of both couples reflect their commitment to transparency and support for charitable causes. The release of the returns allows the American people to see the financial activities of their leaders and understand how they contribute to society through taxes and charitable donations. The tradition of publicizing presidential tax returns serves as a reminder of the importance of honesty and accountability in public office, setting a standard for future leaders to follow.
