The President and Vice President release their 2023 tax returns, setting new record for transparency
Today, the President and First Lady released their 2023 federal income tax return. After restoring the bipartisan tradition of sharing presidential tax returns with the public, President Biden has now shared a total of 26 years of tax returns with the country. Once again demonstrating his commitment to being transparent with the American people, President Biden has released the most tax returns of any commander-in-chief while in office.
President Biden believes that all occupants of the Oval Office should be open and honest with the American people, and that the longstanding tradition of annually releasing presidential tax returns should continue unbroken.
The President and First Lady filed their income tax return jointly and reported federal adjusted gross income of $619,976. They paid $146,629 in federal income tax, and their 2023 effective federal income tax rate is 23.7 percent.
The President and First Lady also reported contributions of $20,477 to 17 different charities. Among those gifts to charity was a $5,000 contribution to the Beau Biden Foundation, a public charity dedicated to ensuring that all children are free from the threat of abuse. They also donated to St. Joseph on the Brandywine, their home parish, the Tragedy Assistance Program for Survivors (TAPS), and the National Fraternal Order of Police Foundation, among other charities.
The President and First Lady also released their Delaware income tax return and reported paying $30,908 in Delaware income tax. The First Lady also released her Virginia income tax return and reported paying $3,549 in Virginia income tax.
View the President and First Lady’s tax returns here.
The Vice President and the Second Gentleman also released their 2023 federal income tax return, as well as state income tax returns for California and the District of Columbia. Including today’s release, the Vice President has published 20 years of tax returns.
The Vice President and the Second Gentleman reported federal adjusted gross income of $450,299. They paid $88,570 in federal income tax, amounting to a 2023 effective federal income tax rate of 19.7 percent. They also paid $15,167 in California income tax, and Mr. Emhoff paid $11,599 in District of Columbia income tax. They contributed $23,026 to charity in 2023.
View the Vice President and Second Gentleman’s tax returns here.
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