Biden and Harris Sole Tax Returns for Tradition: NPR

What might not be much news in other years is making headlines this year: President Joe Biden has released his tax returns.

The disclosure of his financial records, as well as those of Vice President Kamala Harris, marks a return to the White House tradition that defied former President Donald Trump during his forty-fifth term.

“Today, the President issued the 2020 Federal Income Tax Return, continuing an almost continuous tradition,” the White House He said Monday, the deadline for submitting income tax returns for the year 2020.

to me filings Released by the White House, Biden and First Lady Jill Biden together earned $ 607,336 in 2020. The couple gave just under $ 31,000 – about 5% of their income – to charity. Together, they owed $ 157,414 in federal income tax.

Combined income for last year, as Biden was on the campaign trail, was much lower than in 2019. The couple reported an average gross income of around $ 985,000 for that year.

Harris and her husband, Doug Imhoff, seem to have had a more financially successful year, although they also made less money than the previous year.

The California couple made an average gross income of $ 1,695,300 in 2020, according to them Tax returns. This is a 45% decrease from their adult 2019 earnings $ 3,095,590.

Harris earned about $ 346,000 from her work as an author and the couple donated just over $ 27,000 to charity. Altogether, they owe a total of $ 621,893 in taxes.

In return, the tax returns obtained New York times He showed Trump paid $ 750 a year in taxes within his first two years in office.

Throughout his presidency, Trump has asserted that he is unable to release his earnings because he was under scrutiny by the Internal Revenue Service. This move broke decades of presidential precedent. But the IRS has routinely audited the personal tax returns of every incumbent president and vice president since the early 1970s, when both President Richard Nixon and Vice President Spiro Agnew were involved in tax scandals during the Watergate era.