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Joe and Jill Biden’s tax returns reveal income was slashed from nearly $1m in 2019 to $600k when he ran for office 2020


THE White House released Joe and Jill Biden’s tax return, revealing that the president and first lady took a hefty pay cut to campaign in 2020.

However, the Bidens still took home $607,336 for the year – which places them in the category of wealthy Americans who would have to pay more under the president’s proposed tax plans.

The Bidens released their 2020 tax returns

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The Bidens released their 2020 tax returnsCredit: Splash
The couple earned more than $607,000 in 2020

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The couple earned more than $607,000 in 2020Credit: The White House

The first couple’s 2020 income is down quite a bit from the $985,233 they earned in 2019.

The latest tax return shows the couple earned $260,000 of their income from pensions and investments and $45,863 in social security benefits.

Most of the remaining cash came from the first lady‘s work teaching at Northern Virginia Community College.

The couple paid $157,414 in federal income tax for the year.

The release of the president’s tax returns brings back a long-standing tradition that Donald Trump‘s administration had ignored.

Biden‘s White House seemed to take a subtle dig at the former president when the returns were released.

The White House took a subtle dig at Donald Trump, who never released his tax returns

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The White House took a subtle dig at Donald Trump, who never released his tax returnsCredit: AFP
VP Kamala Harris and her husband released their returns as well

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VP Kamala Harris and her husband released their returns as wellCredit: AP

“Today, the president released his 2020 federal income tax return, continuing an almost uninterrupted tradition,” a statement from the White House said.

“With this release, the President has shared a total of 23 years of tax returns with the American public.”

Previous tax returns revealed that Biden enjoyed a few especially lucrative years after serving as Barack Obama‘s VP until 2016.

In 2017, the Bidens earned more than $11million after striking a major book deal and some lucrative speaking gigs.

Biden also began teaching at the University of Pennsylvania before taking a leave of absence to kick off his campaign.

Vice President Kamala Harris and her husband Doug Emhoff also released their 2020 returns on Monday.

The couple earned more than $1.8million and also took a hefty pay cut from the previous year – when they earned around $3million – to campaign in 2020.

Most of the couple’s income came from Emhoff’s work as a partner at DLA Piper law firm.

They paid around $620,000 in federal income tax.

Stimulus update – Biden says $250 tax credit per child will be sent automatically to bank accounts from July 15





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