Evan Vucci / AP
What in other years probably wouldn’t be huge news is making headlines this year: President Joe Biden released his tax returns.
The release of his financial records, along with those of Vice President Kamala Harris, marks the return of a White House tradition challenged by former President Donald Trump during the 45th president’s term.
“Today, the president released his federal tax return for 2020, continuing an almost unbroken tradition,” the White House said on Monday, the deadline for filing 2020 tax returns.
According to documents released by the White House, Biden and First Lady Jill Biden, jointly earned $ 607,336 in 2020. The couple donated just under $ 31,000 – about 5% of their earnings – to charity. Together, they owed $ 157,414 in federal income tax.
Their combined income for last year, while Biden was campaigning for an election, was significantly lower than in 2019. The couple reported adjusted gross income of around $ 985,000 for that year.
Harris and her husband, Doug Emhoff, seemed to be having a more successful year financially, even though they too were making less money than the year before.
The California couple had an adjusted gross income of $ 1,695,300 in 2020, according to their tax returns. This is a 45% decrease from their 2019 income of $ 3,095,590.
Harris made around $ 346,000 from his work as an author, and the couple donated just over $ 27,000 to charity. In all, they owed a total of $ 621,893 in taxes.
In contrast, tax returns obtained by the New York Times showed Trump paying $ 750 a year in taxes his first two years in office.
Throughout his presidency, Trump maintained that he was unable to release his statements because he was audited by the Internal Revenue Service. This decision shattered decades of presidential precedent. But the IRS has routinely checked the personal income tax returns of every incumbent president and vice president since the early 1970s, when President Richard Nixon and Vice President Spiro Agnew were both embroiled in tax scandals in the Watergate era.