President Biden and First Lady Jill Biden released their federal tax return for 2021 on Friday, as did Vice President Kamala Harris and Second Gentleman Doug Emhoff. Biden’s tax records show that they earned a total of $ 610,702 in 2021 and paid $ 150,439 for an effective income tax rate of 24.6%. The Biden family donated more than $ 17,000 to charities. The first couple won roughly the same amount in 2020 – over $ 607,000.
Harris and Emhoff earned significantly more in 2021 – $ 1.66 million, according to their joint tax return. They paid $ 523,371 in income tax for an effective tax rate of 31.6%. The couple won roughly the same amount in 2020, when they reported nearly $ 1.7 million in revenue. The second couple paid $ 120,517 in income tax in California in 2021, and Emhoff paid $ 54,441 in income tax in the District of Columbia. They donated a little over $ 22,000 to charity.
Part of the revenue that Harris and Emhoff reported came from the sale of Harris’ apartment in San Francisco, which brought them more than $ 319,000. Harris also reported income as a writer – $ 452,664.
The Biden family, who travel frequently to Delaware to spend time at their residence there, filed their declarations in Delaware.
Biden’s tax returns also reflect that their S corporations are based in Delaware. S Corporations are sometimes criticized because the recipient does not owe Medicare taxes or social security, and the source of income is untraceable. Celticcapri Corp. was attached to Mr. Biden, and Giacoppa Corp. is attached to the first lady, as noted in their tax return.
The first lady also paid foreign taxes in Virginia, where she teaches at NOVA Community College. She paid $ 2,721 in Virginia income tax.
– Nancy Cordes and Gabby Ake contributed to this report.
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Catherine Watson
Catherine Watson is a political reporter for CBS News Digital based in Washington, DC
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