President Joe Biden speaks during an event on gun violence in the Rose Garden of the White House in Washington, D.C., on Monday. File Photo by Bonnie Cash/UPI | License Photo
April 15 (UPI) -- President Joe Biden and first lady Jill Biden released their 2021 tax returns Friday showing the couple earned a joint income of $610,702 last year.
The Bidens' income marked a slight increase from the $607,336 they reported earning in 2020 but a significant decrease from the nearly $1 million the couple made in 2019 before he became president, a comparison of his tax returns shows.
A large chunk of the couple's income came from Joe Biden's $400,000 salary as president. Virginia state tax forms for Jill Biden indicate that her taxable salary as an English professor at Northern Virginia Community College were around $67,000.
The College Fix, a student-reported news outlet, had obtained a copy of her contract last year which revealed that Jill Biden's salary for the current academic year would be about $86,000. The outlet said she previously made a salary of $81,000 per year.
The couple also made about $62,000 from an S-Corporation they control, which received money from Simon & Schuster and Flatiron Books for their books.
The new tax returns also show that the Bidens paid about paid $150,439 in federal income tax - essentially a tax rate of 24.6% -- on top of more than $30,000 in combined Delaware state taxes. Jill Biden paid an additional $2,721 in Virginia income tax.
The Bidens also contributed about $17,394 to charities, including $5,000 to the Beau Biden Foundation, a nonprofit chaired by Hallie Biden that aims to prevent child abuse.
Vice President Kamala Harris and her husband Doug Emhoff also released their tax returns Friday showing the couple made $1.7 million in 2021, including $452,664 in sales of her book The Truths We Hold.
Harris and Emhoff, an entertainment lawyer, paid $523,371 in federal income tax, for a tax rate of about 31.6%. They also paid $120,517 in California income tax and $2,044 in New York income tax. Emhoff paid an additional $54,441 in income tax for Washington, D.C.
Every president since Richard Nixon has released their tax returns, apart from Biden's predecessor Donald Trump whose taxes were obtained and published in part by The New York Times.
The outlet revealed that Trump had paid just $750 in taxes in 2016, the year he was elected president, and had paid no taxes in more than 10 of the previous 15 years.