Biden's tax return shows steep fall in income

Sun Online Desk

18th May, 2021 12:42:05 PM printer

Biden's tax return shows steep fall in income

US President Joe Biden and first lady Jill Biden

 

Joe Biden has brought back a US presidential tradition by releasing his tax return on Monday ( May 17), the White House said.

The filing shows he and his wife earned $607,336 (£430,000) last year and paid $157,414 in federal income tax.

Their income fell from 2019 when they earned $985,223 mostly from speeches, book sales and positions at higher education institutions.

The document shows that during the busy election campaign year the Bidens paid a federal income tax rate of 25.9%, the White House said.

They also donated $30,704 to 10 charities in 2020. The biggest sum of $10,000 went to the Beau Biden Foundation, which campaigns against child abuse and is named after the president's son, who died aged 46 in 2015 of brain cancer.

Joe and Jill Biden's previous tax returns have shown they donated $70,000 to charity in total over the two decades leading up to 2017.

The Bidens also have assets of between $1.2m and $2.88m, according to their financial disclosure form released on Monday. Mr Biden's current salary as president is $400,000.

 (BBC)


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