Biden and his wife disclose $620,000 income in 2023 tax filings

President Joe Biden and his wife, Jill, disclosed their tax returns for the year 2023, revealing an income increase of 7% to $619,976, with 23.7% of their income paid in federal taxes.

On the day taxes were due, Biden shared the information as he prepares for the 2024 re-election campaign.

Unlike Trump, who did not release his tax returns, citing an ongoing audit, Biden adheres to the tradition of transparency in presidential tax disclosures.

Trump’s tax returns for 2015 through 2020 were made public by a House committee in 2022, despite Trump’s objections.

During a New York court trial on Monday, Trump faced legal issues related to his personal finances.

The White House stated that Biden values honesty and transparency and believes in the tradition of releasing presidential tax returns annually.

Trump’s campaign has not responded to requests for comments on the matter.

In a social media post, Trump highlighted tax cuts during his presidency and warned about potential tax increases under Biden without disclosing his own tax return information for 2023.

Biden and Jill Biden earned most of their income from their respective roles as U.S. president and a teacher at Northern Virginia Community College.

The remaining income came from investments, pensions, and book royalties collected through a corporate entity.

Biden is set to address tax policy from his birthplace in Scranton, Pennsylvania, on Tuesday, advocating for higher tax rates for the wealthy.

The couple donated $20,477 to charity, including contributions to churches, the Epilepsy Foundation, and the Fraternal Order of Police.

Vice President Kamala Harris and her husband also released their tax return, showing an income of $450,380, federal taxes of $88,570, and charitable donations amounting to $23,026 for the year 2023.