President Joe Biden and first lady Dr. Jill Biden released their joint tax return for 2023, showing earnings of $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 and openness by continuing the tradition of annually releasing presidential tax returns, a departure from former President Donald Trump’s refusal to disclose his tax returns voluntarily.
The bulk of the Bidens’ income came from President Biden’s $400,000 salary, as well as pensions. Dr. Jill Biden earned additional income from her position as a teacher at Northern Virginia Community College. The Bidens paid $146,629 in federal income tax in 2023, with a federal income 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, in memory of the president’s late son.
Harris and Emhoff paid $88,570 in federal income tax in 2023, with a tax rate of 19.7%. They made charitable donations amounting to $23,026, supporting organizations such as the DC Central Kitchen, Howard University, and the University of Southern California. The Bidens have a history of releasing their tax returns, with a total of 26 years’ worth being made public, while Harris has released 20 years of her tax returns.
The Bidens’ 2023 income marked an increase from the previous year, with earnings of $579,514 in 2022. Harris and Emhoff reported an income of $456,918 in 2022 and $1.6 million in 2021, which included the sale of a house. The current first couple reinstated the tradition of releasing tax returns when taking office in 2021, highlighting their commitment to transparency and public accountability.
The release of the tax returns provides insight into the financial affairs of the first and second families, showcasing their income sources, tax obligations, and charitable contributions. The White House’s decision to disclose this information reinforces President Biden’s belief in honesty and transparency in governance, contrasting with previous administrations’ lack of transparency on tax matters. Overall, the disclosure of the tax returns serves as a demonstration of the Biden administration’s commitment to accountability and openness in leadership.
