Home / US / Biden paid nearly $ 300,000 in federal income taxes in 2019

Biden paid nearly $ 300,000 in federal income taxes in 2019

Biden’s release of his 2019 tax returns comes hours before the first presidential debate and two days after the New York Times reported that President Donald Trump has paid no federal income tax in 10 out of 15 years since 2000. Trump paid only $ 750 in federal tax income in 2016 and 2017, according to the Times. Trump has not released his tax returns to the public, which breaks decades of precedent for presidential candidates and presidents of major parties.

California Senator Kamala Harris also released her 2019 tax return on Tuesday, which showed that she and her husband, Doug Emhoff, paid about $ 1.2 million in taxes and had an adjusted gross income of about $ 3. millions.

“This is a historic level of transparency and will once again give the American people the confidence that their leaders are looking after them and not their own profits,”

; Biden Deputy Campaign Manager Kate Bedingfield told reporters Tuesday, noting. that Biden has now released more than two decades of tax returns.

The Bidens made $ 14,700 in charitable donations, according to tax records. They show the income earned by the Bidens from Northern Virginia Community College, where Jill Biden teaches, and from the University of Pennsylvania, where Joe Biden ran a center for diplomacy. They also earned income from speeches and books, which went through the companies they had founded.

Biden was a senator for six terms before joining Barack Obama’s presidential ticket, and his financial revelations often showed he was among the least wealthy members of the Senate. He described himself as “middle-class Joe” during the election campaign.

But in the two years after leaving the White House, Biden made $ 15.6 million, largely through speech taxes and accounting profits. He and Jill made $ 11 million in 2017 and $ 4.6 million in 2018 and paid $ 3.7 million in taxes in 2017 and $ 1.5 million in 2018, as shown by financial documents published by Biden’s campaign. last year.

The Times bombshell report on Trump’s taxes is based on more than two decades of tax information and outlines Trump’s vast financial losses and years of tax avoidance.

Trump’s taxes also show that he asked for a refund of $ 72.9 million, which became the subject of an Internal Revenue Service audit, for the taxes he paid between 2005 and 2008.

Trump denied the Times news during a White House briefing on Sunday and said he pays “a lot” in federal income taxes.

This story has been updated with more information on Biden and Trump’s tax returns.

CNN’s Arlette Saenz and Jeff Zeleny contributed to this report.

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