Biden, First Lady Earned $620,000 In 2023, Paid 23.7% In Federal US Income Tax

In their joint federal income tax return for 2023 filed this month, US President Joe Biden and first lady Jill Biden reported federal adjusted gross income of $619,976, according to a statement by the White House late Monday.

Under an effective federal income tax rate of 23.7%, the couple paid $146,629 in federal income taxes, it added.

The president and first lady also released their income tax return for the northeastern state of Delaware, where they claim residence and paid $30,908 in Delaware income tax.

The first lady, in addition, released her income tax return for the state of Virginia and reported paying $3,549 in Virginia income tax.

"The President and First Lady also reported contributions of $20,477 to 17 different charities. Among those gifts to charity was a $5,000 contribution to the Beau Biden Foundation, a public charity dedicated to ensuring that all children are free from the threat of abuse," said the statement, referring to a group named after the first couple's oldest son, who died of brain cancer in 2015.

"President Biden believes that all occupants of the Oval Office should be open and honest with the American people, and that the longstanding tradition of annually releasing presidential tax returns should continue unbroken," it added.

During his time at the White House, former President Donald Trump bucked tradition by refusing to release his tax returns. As he works to defeat Biden this fall and return to the presidency, Trump has maintained his stance by not releasing his latest tax filing. -