The President and Vice President release their 2020 tax returns
Today, the President released his 2020 federal income tax return, continuing an almost uninterrupted tradition. With this release, the President has shared a total of 23 years of tax returns with the American public. The President and the First Lady filed their income tax return jointly and reported federal adjusted gross income of $607,336. The Bidens paid $157,414 in federal income tax and their 2020 effective federal income tax rate is 25.9 percent. The President and First Lady also reported donating $30,704 – or about 5.1 percent of their total income – to 10 different charities. The largest reported gift to charity was $10,000 to the Beau Biden Foundation, a public charity dedicated to ensuring that all children are free from the threat of abuse. The President and First Lady also released their Delaware income tax return and reported paying $28,794 in Delaware income tax. The First Lady also released her Virginia income tax return and reported paying $443 in Vi...