Biden Reports $600,000 Income... Federal Income Tax Rate 25.9%

Trump Continues Tradition of Releasing Income Tax Returns He Halted

[Image source=AP Yonhap News]

[Asia Economy New York=Correspondent Baek Jong-min] U.S. President Joe Biden reported an income of $600,000 last year. He paid $150,000 in federal income tax.

The White House disclosed the tax filing results of President Biden and Vice President Kamala Harris and their spouses on the 17th (local time). This day was the federal income tax filing deadline.

President Biden, together with First Lady Jill Biden, reported an income of $607,336 to the IRS. The federal income tax was finalized at $157,414. The federal income tax rate was 25.9%. President Biden will receive a refund of $4,649 from the previously paid tax amount of $160,263.

President Biden's income last year decreased compared to 2019. His income in 2019 was $985,000, and he paid $300,000 in federal income tax.

The Harris couple reported an income of $1,695,225. Their federal income tax was $621,893, with an income tax rate of 36.7%.

The White House emphasized that President Biden's income disclosure continued the tradition. CNN reported that this was a reminder of former President Donald Trump's refusal to disclose his tax records.

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