President Joe Biden is continuing a decades-long tradition of presidents releasing their tax returns.
“Today, the President released his 2020 federal income tax return, continuing an almost uninterrupted tradition. With this release, the President has shared a total of 23 years of tax returns with the American public,” the statement read.
Biden and First Lady Jill Biden reported a federal adjusted gross income of $607,336 and paid $157,414 in federal income tax.
Harris and Second Gentleman Douglass Emhoff also released their tax returns which showed they reported a federal adjusted gross income of $1,695,225 and paid $621,893 in federal income tax.
Earlier on Monday, White House Press Secretary Jen Psaki was asked if Biden and Harris would release their tax returns. She said, “We will be soon releasing, as we believe is the transparent approach and what the public expects, the tax returns of the president. I’ll have to double-check on the vice president, but I would expect those will be out soon.”
When asked if an audit of Biden’s tax returns would prevent their release, Psaki said, “No, I would expect we will continue to release the president’s tax returns, as should be expected by every president of the United States.”
Former President Donald Trump broke a decades long precedent in 2016 when he became the first presidential nominee of a major party in 40 years to not release his tax returns. He did not release his tax returns during the campaign or his time in office as he said he was under an audit. However, he did not provide evidence that he was being audited.
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