Joe Biden releases 2019 tax returns ahead of presidential debate
Democratic presidential nominee Joe Biden and his running mate, California Sen. Kamala Harris just released their 2019 tax returns.
Biden’s return shows that he and his wife, Jill, made $944,737 in taxable income last year and paid $299,346, or a 31% tax rate, in federal income taxes.
The release came less than 48 hours after The New York Times published an investigation based on more than a decade’s worth of Trump’s tax returns showing that the president paid no federal income taxes for 10 of the past 15 years.
Democratic presidential nominee Joe Biden and running mate Kamala Harris released their 2019 tax returns on Tuesday, just hours before Biden’s first debate with President Donald Trump.
The returns show that Biden and his wife, Jill, reported $944,737 in taxable income last year and paid $299,346, or a 31% tax rate, in federal income taxes. The Bidens also reported making $14,700 in charitable contributions.
The Bidens’ income last year represents a significant decrease from the previous two years. In 2017, the couple reported making more than $11 million, and in 2018 they made $4.5 million. In both years, the income was largely through book deals.
Harris and her husband, attorney Doug Emhoff, reported $3,018,127 in taxable income, the majority of it via Emhoff’s partnership at the global law firm DLA Piper. They paid federal income taxes of $1,185,628, or an effective tax rate of 39%. Harris and Emhoff also reported making charitable donations of $35, 390 last year.
The release was a strategic move, coming less than 48 hours after The New York Times published a bombshell investigation based on more than a decade’s worth of Trump’s tax returns, showing that he paid just $750 in individual federal income taxes in 2016 and 2017.