President Joe Biden and first lady Jill Biden released their 2022 federal income tax return Tuesday, showing a gross income of $579,514 — a decrease from their first year in the White House.
In 2021, the Bidens reported an income of $610,702. The couple’s federal adjusted gross income for 2022 indicates a drop of roughly $31,000.
The couple last year paid $137,658 in federal income tax, a tax rate of 23.8%, compared with 25% in 2021. They also paid $29,023 in Delaware income tax and $3,139 in Virginia from Jill Biden’s salary from teaching at Northern Virginia Community College.
Joe Biden makes a salary of $400,000 a year as president and is afforded an expense allowance of $50,000, an amount that is determined by Congress.
The Bidens reported contributions of $20,180 to 20 charities in 2022, offering their largest donation of $5,000 to the Beau Biden Foundation.
The couple also contributed to St. Joseph on the Brandywine, their home parish in Delaware, the Tragedy Assistance Program for Survivors and the National Fraternal Order of Police Foundation, among others.
The White House said in a statement that this year’s returns marked Biden’s publicly sharing a total of 25 years of tax returns, releasing the “most tax returns of any president while in office.”
Vice President Kamala Harris and her husband, Doug Emhoff, also released their 2022 tax returns, reporting a federal adjusted gross income of $456,918, less than half of the $1.7 million they reported in 2021. The couple paid $93,570 in federal income tax, a tax rate of 20.5%.
They also paid $17,612 in California income tax, and Emhoff paid $9,697 in Washington, D.C., income tax. They contributed $23,000 to charity in 2022.
Every president since Richard Nixon has released his tax returns except Donald Trump, who fought for years to conceal his taxes from public view.
Six years of Trump’s personal and business returns were released at the end of last year after they were obtained by the House Ways and Means Committee, which Democrats controlled at the time.
Source: | This article originally belongs to Nbcnews.com
