WASHINGTON — President Joe Biden and first lady Jill Biden released their 2021 tax returns on Friday, showing an income of $610,702 during their first year in the White House.
The Bidens paid $150,439 in federal income tax, a tax rate of 25 percent. They also paid $30,765 in Delaware income tax and $2,721 in Virginia from the first lady’s salary from teaching at Northern Virginia Community College.
In 2020, the first couple also made just over $600,000. As president, Biden makes a salary of $400,000 a year, along with an expense allowance of $50,000, an amount that is set by Congress.
Vice President Kamala Harris and her husband, Douglas Emhoff, also released their tax returns, showing they made $1.7 million in 2021, similar to the amount earned in 2020. They paid $523,371 in federal income tax, a tax rate of 31.6 percent.
“With this release, the president has shared a total of 24 years of tax returns with the American public, once again demonstrating his commitment to being transparent with the American people about the finances of the commander in chief,” Biden said in a statement.
Every president since Richard Nixon has released their tax returns, except for Biden’s predecessor, Donald Trump, who claimed he could not make his returns public because they were under audit.
As president, Biden will automatically be audited, a move that has been mandatory since the Watergate scandal.
The Bidens also donated $17,394 to 10 different charities, largest of which was $5,000 to the Beau Biden Foundation. Harris and Emhoff donated $22,100 to charity in 2021.
Source: | This article originally belongs to Nbcnews.com
