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Here’s how much President Biden paid in taxes in 2022
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Here’s how much President Biden paid in taxes in 2022
tonight to do so.
As tax day wound down Tuesday evening, President Joe Biden and Vice President Kamala Harris released their complete 2022 tax returns.
Biden, 80, again filed jointly with his wife, Jill Biden. The couple reported an adjusted gross income of $579,514 with over $480,000 coming from their salaries.
Jill Biden, a community college professor, earned $82,335 from her work at Northern Virginia Community College in 2022, while her husband received the presidential salary of $400,000. The Bidens also received additional income from existing S corporations, IRA distributions, Social Security benefits, and taxable interest.
The first couple's 37-page return showed they paid a total of $137,658 in federal income tax, $29,023 in Delaware income tax, and $3,139 in Virginia income tax. The Bidens also reported contributions of $20,180 to 20 different charities in 2022, including $5,000 to the Beau Biden Foundation in honor of the president’s late son.
The first family paid an effective federal income tax rate of 23.8%.
The top lines of the first couple's 2022 returns were very similar to both their 2021 and 2020 returns with similar income and charitable contribution levels. The Bidens' income has fallen from the 2017-2019 period when they were out of office and off the campaign trail. During that stretch, thanks in part to book deals and speaking engagements, they reportedly earned over $15 million.
Biden has now made 25 years of his tax returns public.The White House says that Biden has released the most tax returns of any president while in office.
The president's focus on transparency is a notable contrast to former President Donald Trump who never released his tax returns willingly, but had six years of his returns released by Congress at the end of 2022 following a acrimonious battle. Some of those returns showed the former president paid just $750 in federal income tax in 2017 and no federal income tax in his 2020 filing.
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