Income in 2023 will be $619,976. US President Joe Biden released his tax returns on Monday, an American tradition of high-level transparency that was temporarily interrupted by his predecessor Donald Trump. This optional practice is annual and is intended to maintain citizens’ trust in their political leaders. Other political figures, as well as candidates in local and national elections, are also involved.
The Bidens received $619,976 in 2023, most of which came from the president’s $400,000 salary and his wife Jill Biden’s $85,985 compensation, according to their filing. She continues her teaching career in Virginia, near the capital of Washington. The couple owed $146,629 in federal taxes for 2023.
Their incomes are up from previous years: nearly $580,000 in 2022 and about $610,000 in 2021. The President and First Lady also reported $20,477 in donations to 17 different charities.
“All Oval Office tenants must be open and honest.”
“President Biden believes that all occupants of the Oval Office should be open and honest with the American people,” the White House said in a statement. “The long-standing tradition of releasing presidents’ tax returns each year must continue without interruption,” she added, in a thinly veiled reference to the Trump era.
Because this year, the release of the Bidens’ statement will take place several months before the November presidential election, which pits the current Democratic president against Republican Donald Trump. Donald Trump, a prominent businessman and media figure before becoming an icon of the American right, has chosen not to follow the tradition of transparency espoused by other presidents, both Democratic and Republican. As a candidate and then president from 2017 to 2021, he refused to make his tax returns public.
But some of his statements were eventually made public after a battle waged by Democrats in Congress. And it turned out that for several years Donald Trump paid virtually no income taxes due to his business losses.
Source: Le Parisien
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