President Joe Biden and first lady Jill Biden have reported paying six figures in federal income tax last year as the White House pushes to impose higher levies on the wealthy.
The Bidens, who filed their 2021 federal income tax return jointly, disclosed earning an adjusted gross income of $610,702 while in the White House. Their federal tax bill of $150,439 was calculated at a 24.6% rate. The numbers are comparable to their 2020 tax return, though they faced a higher rate of 25.9%.
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The filing revealed the first couple donated $17,394 to 10 different charities last year, including $5,000 to the Beau Biden Foundation, named for the president’s deceased son.
The Bidens’ Delaware income tax return was included in the tranche of documents, the pair paying $30,765 in state dues. The first lady was also liable for $2,721 in Virginia income taxes based on the salary she drew working as a Northern Virginia Community College English and writing professor.
“With this release, the president has shared a total of 24 years of tax returns with the American public, once again demonstrating his commitment to being transparent with the American people about the finances of the commander in chief,” the White House said in a statement.
Vice President Kamala Harris and her husband, Doug Emhoff, similarly released their federal return, as well as state paperwork for the money they earned in California, New York, and the District of Columbia.
The second couple reported a federal adjusted gross income of $1,655,563 and paid $523,371 in federal income taxes calculated at a 31.6% rate, $120,517 in California, and $2,044 in New York, while Emhoff was liable for $54,441 in Washington, D.C. They also donated $22,100 to charity.
In his $5.8 trillion fiscal year 2023 budget request last month, Biden proposed a 20% minimum tax on households with a net worth of more than $100 million, including unrealized capital gains.
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“This is a classic Joe Biden budget,” White House Office of Management and Budget Director Shalanda Young said at the time. “We’re putting forward proposals that do two things: establishes a tax system that’s fair, where corporations and the wealthiest pay their fair share, but it has the added benefit of paying for needs of the American people, like reducing childcare.”
