Biden, Harris Incomes Dropped in 2020, Tax Returns Show
- Both would still pay higher tax rates under Biden proposal
- Bidens earned $607,336 in 2020, paid $157,414 in federal tax
Kamala Harris and Joe Biden after speaking in the Rose Garden at the White House.
Photographer: Tasos Katopodis/UPI/Bloomberg
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President Joe Biden’s income fell dramatically to $607,336 in 2020 as he dropped lucrative speaking engagements to campaign for the White House, but he still earned enough to pay the higher tax rates he’s proposed for wealthy people.
Biden and first lady Jill Biden paid $157,414 in federal income tax, making their federal income tax rate 25.9%, according to their 2020 tax return, which was obtained by Bloomberg News ahead of its Monday release by the White House. They paid an additional $28,794 in Delaware state taxes and $433 to Virginia, where the first lady teaches.