Bidens paid 25.9% rate and earned $607,336, tax returns show

Joe Biden
Posted at 8:06 PM, May 17, 2021
and last updated 2021-05-17 22:21:14-04

WASHINGTON (AP) — President Joe Biden has released his tax returns, restoring a long-standing presidential tradition.

They show that 25.9% of the first couple's income went to the federal government in 2020.

The most recent IRS data indicates that the average federal income tax rate is just over 14%.

Biden and his wife, Jill, a teacher, earned $607,336 last year while he was running for president.

That is down from $985,223 in 2019 when they primarily earned money from book sales, speeches and positions at the University of Pennsylvania and Northern Virginia Community College.