Bidens report adjusted gross income of $619,976 in 2023

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Biden proposes 25% billionaire tax

President Joe Biden details how he would like to create a 25% tax on American billionaires during State of the Union address.

President Biden and first lady Jill Biden reported a federal adjusted gross income of $619,976, according to their 2023 federal income tax returns, which were released by the White House on Monday. 

The president and first lady filed their income tax return jointly and paid $146,629 in federal income tax, according to the records reviewed by Fox News Digital. 

Their 2023 effective federal income tax rate was 23.7%. 

President Joe Biden and first lady Jill Biden listen as Maria Shriver, the former first lady of California, speaks during a Women’s History Month reception in the East Room of the White House on March 18, 2024 in Washington, DC. (Anna Moneymaker/Getty Images)

FLASHBACK: BIDENS REPORT ADJUSTED GROSS INCOME OF $579,514 IN 2022

The president and first lady also released their Delaware income tax return and reported paying $30,908 in Delaware income tax. 

First Lady Jill Biden also released her Virginia income tax return and reported paying $3,549 in Virginia income tax – from her teaching at Northern Virginia Community College.

An annual presidential salary is $400,000.

In 2022, the president and first lady reported a federal adjusted gross income of $579,514. In 2021, they reported $610,702. In 2020, the first couple earned $607,336, which was down from the $985,223 they reported in 2019.

President Joe Biden's administration oversaw some of the highest national average gas prices in U.S. history  (Julia Nikhinson/For The Washington Post via Getty Images)

The president and first lady also reported contributions of $20,477 to 17 different charities, including a $5,000 contribution to the Beau Biden Foundation, a public charity dedicated to ensuring that all children are free from the threat of abuse. 

They also donated to St. Joseph on the Brandywine, their home parish, the Tragedy Assistance Program for Survivors (TAPS), and the National Fraternal Order of Police Foundation, among other charities.

Meanwhile, Vice President Kamala Harris and Second Gentleman Douglas Emhoff reported federal adjusted gross income of $450,299. They paid $88,570 in federal income tax and had a federal income tax rate of 19.7%. 

FLASHBACK: WHITE HOUSE RELEASES BIDEN'S 2021 TAX RETURNS

Harris and Emhoff also paid $15,167 in California income tax and Emhoff paid $11,599 in District of Columbia income tax. 

Harris and Emhoff contributed $23,026 to charity in 2023.

The White House, in a statement after the release of the returns, said the Biden administration has restored "the bipartisan tradition of sharing presidential tax returns with the public." 

Emhoff spoke to "Watch What Happens Live" host Andy Cohen about his marriage with the vice president. (X screenshot / @VP)

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"President Biden has now shared a total of 26 years of tax returns with the country," the White House said Monday. "Once again demonstrating his commitment to being transparent with the American people, President Biden has released the most tax returns of any commander-in-chief while in office." 

 The White House added that the president "believes that all occupants of the Oval Office should be open and honest with the American people, and that the longstanding tradition of annually releasing presidential tax returns should continue unbroken."