Presidents have traditionally made public their annual tax returns, which detail sources of income and taxes paid, in the name of transparency. In their joint tax return for 2020, Biden and his wife Jill, a community college professor, reported federal adjusted gross income of $607,336. They paid $157,414 in federal income tax, an effective rate of 25.9 percent. The former California senator released a joint tax return with her lawyer husband Doug Emhoff reporting federal adjusted gross income of $1,695,225. They paid $621,893 in federal income tax, amounting to a rate of 36.7 percent.

Source: Philippine Daily Inquirer May 17, 2021 22:41 UTC