The Bidens Paid $138,000 in Income Taxes

The Bidens paid $138,000 in income tax

President Joe Biden and his wife Jill released their federal tax return on Tuesday, showing that the couple earned nearly $580,000 last year and paid an effective federal income tax rate of 23.8 percent.

The Bidens also donated nearly 3.5 percent of their income, amounting to $20,180, to 20 charitable organizations, one of which is related to U.S. police unions.

Unlike Republicans, Biden has proposed higher taxes for corporations and individuals earning more than $400,000 a year.

Making U.S. Presidents’ federal tax returns public is a longstanding tradition in the country, which Donald Trump broke. The Bidens reported an adjusted gross federal income of $579,514 in 2022, based on which they paid $137,658 in federal income tax. Last year, the first year of Biden’s presidency, their income was $610,702.