TOP# President Biden earned $607,000 in 2020, paid 26% in federal taxes, returns show

President Joe Biden and First Lady Jill Biden reported that they earned $ 607,336 last year and paid $ 157,414 in federal income taxes, according to 2020 federal tax returns announced Monday, a decrease in income from the previous year.

The White House issued tax returns for Biden and declarations of Vice President Kamala Harris and Second Man Doug Imhoff, coinciding with a deadline extended Monday for payment of federal income taxes.

The release recreates a White House tradition broken by former President Donald Trump, who refused to release his tax returns as president. It marks Biden's 23rd year of tax returns. Biden’s urging of a halt to the fighting — tucked at the end of a summary of a call with Prime Minister Benjamin Netanyahu of Israel — followed a drumbeat of calls from Democratic lawmakers across the ideological spectrum for his administration to speak out firmly against the escalation of violence.

"I expect that we will continue to release the president's tax returns, as every president of the United States should expect," White House Press Secretary Jane Psaki told a news briefing on Monday.

The Bidens, who filed their tax returns jointly, had an effective federal income tax rate of 25.9%. The average rate for all Americans is 14.6%.

Biden also reported that they paid $ 28,794 in Delaware income tax returns in separate state income tax returns that were announced. In addition, Jill Biden has issued its Virginia tax return; I reported $ 443 in income tax in Virginia

More: Live updates to 2020 elections: Biden releases taxes before debate with Trump; Attorney asks Michael Flynn not to receive a pardon President Joe Biden on May 5, 2021, in Washington, DC.
Harris and Imhof reported total federal average income of $ 1,695,225 in 2020 and paid $ 621,893 in federal income tax, which is an effective federal income tax rate of 36.7%.

The tax returns for 2020 cover a period when Biden was running for president and Harris, then a US senator from California, was campaigning as Biden's vice president.

More than a third of Biden's reported income, $ 252,035, came from annuities and annuities. Biden earned an additional $ 212,681 from Giacoppa Corp. , A company created by Biden. The couple reported $ 45,836 in Social Security benefits and $ 12,861 from Northern Virginia Community College, where Jill Biden is teaching English. 

The Bidens reported donating $ 30,704 to charities in 2020, totaling 5.1% of their income. His largest charitable contribution, $ 10,000, was to the Beau Biden Foundation, a charity named after the president's deceased son, which is dedicated to ensuring that children are free from abuse. Biden donated $ 5,000 each to the Delaware Food Bank and International Firefighters Association Foundation and $ 1,000 to St. Joseph on the Brandywine, the Catholic Church he and the first lady attend regularly in Wilmington, Delaware.

In 2019, Biden paid $ 287,693 in federal income taxes and reported an adjusted gross income of $ 985,233. Biden's campaign released the 2019 tax returns hours before his first debate with Trump in September.

Harris and Emhoff paid $ 125,004 in California income taxes in 2020, and Emhoff paid $ 56,997 in District of Columbia income taxes, according to state filings. The couple reported paying $ 27,006 in charity in 2020, or 1.6% of their total income.

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