April 16, 2022
Joe and Jill Biden Made More Money, Paid Less Tax in 2021 Than ‘20, Returns Show
President Joe Biden and first lady Jill Biden reported $610,702 in earnings and paid 24.6% in federal taxes last year, according to documents released by the White House Friday.
The first couple’s income was up slightly from the $607,336 they reported earning in 2020, but down significantly from 2019 when the Bidens earned almost $1 million, with large amounts from book sales and teaching positions.
The Bidens paid $150,439 in federal taxes and another $30,765 in their home state of Delaware, according to a copy of their joint return. Jill Biden also paid $2,721 in Virginia taxes. The federal total is down on the $157,414 tax bill the couple paid in 2020, while the couple’s federal rate is also lower than what they were taxed at for that year (25.9%). The average federal tax rate for Americans is about 14%.
The Bidens gave $17,394 in charitable donations in 2021, a little less than 3% of their income and just over half of the $30,704 they donated in 2020. The largest donation, of $5,000, went to the Beau Biden Foundation, named in honor of the president’s late son.
Between 2017 and 2019, in between his time as vice president and president, Biden earned more than $16.5 million, including large payouts for speaking at colleges and elsewhere. He earned almost $1 million from the University of Pennsylvania from 2017 to 2019, previous filings show.
The first couple’s total joint income for last year includes $378,333 of Joe Biden’s annual $400,000-a-year salary as commander in chief — prorated since he didn’t take office until Jan. 20, 2021. Jill Biden earned $67,116 teaching at Northern Virginia Community College.
The president also reported income from pensions and $61,995 from two so-called S corporations – CelticCapri Corp. and Giacoppa Corp. The S corporations comprised a majority of the Biden’s earnings between 2017 and 2019, the Federalist reported last week — which led to calls from some legal experts to call on the president to release corporate tax returns relating to the two.
Vice President Kamala Harris and her husband, attorney Douglas Emhoff, raked in more than $1.6 million for the year 2021 and paid a tax rate of 31.6%. Harris and Emoff paid $120,517 in California income tax and $2,044 in New York income tax, their return shows.
Emhoff also paid $54,441 in District of Columbia income taxes, according to the White House
Harris reported income from sales of her book “The Truths We Hold” and from the sale of a San Francisco property owned by the couple. They donated $22,100 for the year, including $5,000 each to Howard University and the University of Southern California — where Harris went to college and Emhoff attended law school, respectively.
“With this release, the President has shared a total of 24 years of tax returns with the American public, once again demonstrating his commitment to being transparent with the American people about the finances of the commander in chief,” the White House said in a statement.
This story originally appeared on New York Post.