President Joe Biden and Vice President Kamala Harris have released their 2022 federal income tax return.
With this, President Biden has shared a total of 25 years of tax returns with the American public.
Announcing this, the White House said, “Once again demonstrating his commitment to being transparent with the American people about the finances of the Commander-in-Chief, President Biden has released the most tax returns of any president while in office.”
The President and First Lady Jill Biden filed their income tax return jointly and reported federal adjusted gross income of $579,514, according to the White House. They paid $169,820 in combined federal, Delaware, and Virginia income taxes. And their 2022 effective federal income tax rate is 23.8 percent.
The President and First Lady also reported contributions of $20,180 to 20 different charities. The largest gift to charity was $5,000 to the Beau Biden Foundation, a public charity dedicated to ensuring that all children are free from the threat of abuse. They also donated to St. Joseph on the Brandywine, their home parish, to the Tragedy Assistance Program for Survivors, and the National Fraternal Order of Police Foundation, among other charities.
Specifically, the President and First Lady paid $137,658 in federal income tax. They also released their Delaware income tax return and reported paying $29,023 in Delaware income tax. The First Lady released her Virginia income tax return as well, and reported paying $3,139 in Virginia income tax.
Vice President Kamala Harris and Second Gentleman Douglas Emhoff also released their 2022 federal income tax return, as well as state income tax returns for California and the District of Columbia. Including this, the Vice President has published 19 years of tax returns.
The Vice President and the Second Gentleman reported federal adjusted gross income of $456,918, the White House said. They paid $93,570 in federal income tax, amounting to a 2022 effective federal income tax rate of 20.5 percent. They also paid $17,612 in California income tax. Emhoff paid $9,697 in District of Columbia income tax. They contributed $23,000 to charity in 2022.
Except for Donald Trump, all recent U.S. presidents have released their tax returns voluntarily.
The House Ways and Means Committee in December released six years of Donald Trump and wife Melania’s joint tax returns.
The former President fought for years to prevent his returns from being released to the public, but the Supreme Court in November declined to block the release to the Democratic-led committee.
Source: Read Full Article
