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President Biden’s income decreased in 2020, during the election campaign for the presidency, according to his most recent tax return, released on Monday.
According to this document, the Bidens declared an income of $607,336 in 2020, of which they paid $157,414 in federal taxes, or 25.9%, as well as $28,794 to the state of Delaware, where they resided.
These are much lower incomes than in previous years, since Biden left the Vice Presidency in 2017 until 2019 they earned about $16.5 million thanks mainly to paid conferences and contracts with publishers.
In addition to the aforementioned tax return, the White House also disclosed a financial statement of the Biden couple in which they record between 1.2 and 2.8 million in banks or investments.
In bank accounts, they declared a maximum of 1,780,000 dollars, almost half of the 3.2 million of the previous fiscal year.
Joe and Jill Biden also reported debts of between $280,000 and $600,000, including a mortgage.
Kamala Harris’s returns
For its part, the White House also made public the tax and financial returns of the vice-president, Kamala Harris, and her husband, Doug Emhoff.
The vice presidential couple declared in 2020 an income of $1,695,225, of which they paid $621,893 in federal taxes, 36.7%, as well as $125,004 to the state of California and $56,997 to the District of Columbia.
Harris and Emhoff’s income was also significantly down from $3 million the previous year, mostly because the vice president’s husband left his job as an attorney in August when Harris was selected by Biden.
In addition to income, Harris and Emhoff reported between $3 million and $6.1 million in assets, including a maximum of $665,000 in their bank accounts.
They also declared debts of between $4.7 million and $21.5 million, including four mortgages, two of which are specified to have already been paid off.